S&P ups Autopistas Metropolitanas

S&P said it raised its ratings for Autopistas Metropolitanas De Puerto Rico LLC’s senior secured notes to BBB from BBB- and removed the ratings from under criteria observation.

On Dec. 14, the agency published revised criteria for rating project finance transactions.

“Under the revised criteria, the project's operation phase business assessment of 5 (unchanged) and base-case minimum debt service coverage ratio (DSCR) of 1.55x now maps to a preliminary stand-alone credit profile of bbb, one notch higher than before,” S&P said in a press release.

The outlook is stable.

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