S&P affirms Lima Airport

Standard & Poor's said it affirmed the BBB- senior secured debt rating on Lima Airport Partners SRL's about $165 million in fixed-rate notes due 2022.

The outlook is stable.

The ratings reflect a generally positive concession contract, the good asset quality of the company's sole operating entity, strong competitive position as Peru's key gateway airport and the quality and experience of its operator and majority owner, Fraport AG, S&P said.

The negative credit factor is a stringent regulatory framework with limited track record, the agency said.

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