Fitch lifts Autoroutes Paris-Rhin

Fitch Ratings has upgraded Autoroutes Paris-Rhin-Rhone SA's (APRR) long-term issuer default rating and senior unsecured rating to A- from BBB+ and affirmed its short-term issuer default rating and senior unsecured ratings at F2.

The outlook is stable.

Fitch said the upgrade reflects Autoroutes Paris-Rhin’s ongoing deleveraging on the back of continued strong operating and financial performance and the expectations that management will maintain consolidated net debt/EBITDA below 5 times, a level commensurate with the new A- rating. Scheduled debt amortization at parent Eiffarie should sustain ongoing deleveraging.

© 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.