Fitch revises International Airport view to stable

Fitch Ratings said it revised the outlook on International Airport Finance SA’s $400 million of senior secured notes to stable from negative and affirmed the rating at B-. The issuance was made in connection with Corporacion Quiport SA (Quiport), the concessionaire of Quito’s Mariscal Sucre International Airport.

“The outlook revision follows the upgrade on Ecuador’s long-term foreign-currency issuer default rating to B- from RD, with a stable outlook. The upgrade of Ecuador’s rating to B- reflects the completion of a ‘distressed debt exchange (DDE) that Fitch deems to have cured the default event initiated by the consent solicitation in April. The outlook revision also reflects the fact that the airport has sufficient liquidity to withstand adverse scenarios in light of the coronavirus pandemic,” the agency said in a press release.

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