Fitch assigns ENA Master notes BBB+

Fitch Ratings said it assigned an expected rating of BBB+ to ENA Master Trust’s up to $400 million of fixed-rate senior secured notes due in 2048.

“The ratings reflect the risk related to the operation of two toll roads, one with a long track record and other that is still going through a ramp-up phase in Panama’s capital city,” Fitch said in a press release.

The outlook is negative, which reflects the trust’s links to the Panamanian government, Fitch said.

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