Fitch rates Vinci senior debt BBB+

Fitch Ratings said it assigned Vinci SA, the French concessions and construction company, a senior unsecured rating of BBB+ and a short-term rating of F2.

The outlook is stable.

Fitch said the ratings reflect the group's leading market positions in Europe, strong international presence and financial flexibility. The ratings also reflect the healthy and more predictable cash flows generated by the concessions portfolio. This portfolio comprises a diverse range of mature and immature projects in a number of different sectors, which mitigates the impact of the more cyclical nature of the group's other three operations (construction, roads and energy), all of which are profitable.

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