S&P upgrades Vinci

Standard & Poor's said it raised its long-term corporate credit ratings on Vinci SA and its toll road network operators Autoroutes du Sud de la France SA and Cofiroute to A- from BBB+.

The outlook on all entities is stable.

At the same time, S&P raised the issue ratings on the group's senior unsecured debt to A- from BBB+. S&P also raised its rating on the group's deeply subordinated bonds to BBB from BBB-.

S&P said the upgrade primarily reflects a reassessment of the importance and stability of the considerable portion of group EBITDA (about 63%) that Vinci derives from the transportation infrastructure industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.