Moody's downgrades Quiport

Moody's Investors Service said it downgraded the senior secured rating of International Airport Finance, SA (Quiport) to B3 from B2 and changed the outlook to stable from negative.

The downgrade and outlook revision follow Moody's rating action in which the agency lowered the government of Ecuador's ratings to Caa1 and changed the rating outlook to stable.

Quiport has various linkages with the government of Ecuador. These include the reliance on contracts with the government under which the airport operates and the tariffs setting process that is determined by the municipality of Quito.

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