Fitch: Autoroutes Paris-Rhin view positive

Fitch Ratings said it revised the outlook on Autoroutes Paris-Rhin-Rhone SA (APRR) to positive from stable and affirmed its long-term issuer default rating and senior unsecured ratings at BBB+.

The agency also affirmed the short-term issuer default rating and senior unsecured ratings at F2.

Autoroutes Paris-Rhin is a French-based infrastructure group and one of the largest toll road operators in Europe.

Fitch said the positive outlook reflects the improving cash flow generation and the agency’s expectation of progressive deleveraging, with consolidated net debt to EBITDA reaching 4.9 times by 2018, assuming a broadly flat traffic in 2017-2018.

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