Fitch: Autopistas del Nordeste view now positive

Fitch Ratings said it affirmed the B rating on $162 million outstanding senior secured notes for Autopistas del Nordeste (Cayman) Ltd. The outlook was revised to positive from stable.

Fitch said key drivers of the rating include strong support from the government, limited competition; predictable operating costs; substantial counterparty risk; and low traffic performance.

A rating action could be triggered, Fitch said, if the government fails to pay amounts owed under the concession agreement including or if traffic performance significantly improves, allowing the project to become self-sustained.

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