Moody’s rates Vianorte CFR Ba3/A1.br, stable

Moody's America Latina said it affirmed Vianorte SA’s senior unsecured and senior secured ratings at Ba3/A1.br.

At the same time, the agency assigned a Ba3/A1.br corporate family rating to Vianorte and withdrew its Ba3/A1.br issuer rating.

The outlook changed to stable from negative.

Moody’s said the Ba3/A1.br rating reflects the mature nature of the concession, as evidenced by the company’s historically solid and stable tolling performance that supports strong credit metrics for the rating category.

The concession is located in a well-developed region although its toll road system serves a smaller area in the interior of the State of Sao Paulo (Ba2, negative) when compared to closely located toll roads, the agency added.

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