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S&P rates Infra Foch CCR BBB
Standard & Poor's said it assigned its BBB long-term corporate credit rating to Infra Foch SAS, parent company of French parking concession operator Vinci Park SA.
The outlook is stable.
At the same time, the agency assigned its BBB issue rating to the up to €950 million bonds Infra Foch proposes to issue.
S&P said the rating on Infra Foch reflects that on Vinci Park because it views these companies as part of the same corporate group, in line with its group rating methodology. The repayment of Infra Foch's debt relies on the cash flow generated by Vinci Park and its subsidiaries.
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