S&P affirms Three Mexican toll roads

Standard & Poor's said it affirmed its AAA senior secured debt ratings on issues of Autopista Monterrey-Cadereyta, Carreteras Ecatepec-Piramides y Armeria-Manzanillo and Promotora y Administradora de Carreteras SA de CV and removed them from CreditWatch with negative implications, where they were placed on Jan. 31.

The outlook is negative.

The agency said it also affirmed its long-term mxAAA national-scale ratings on the issues.

S&P added that these actions mirror those taken on MBIA Insurance Corp., adding that this entity provides unconditional and irrevocable guarantee of full payment on principal and interest on the aforementioned obligations.

A negative rating action on MBIA would lead to a downgrade of the aforementioned issues, the agency noted.

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