Fitch turns Ruta al Mar view to negative

Fitch Ratings said it changed its outlook for PA Concesion Ruta al Mar to negative from stable and affirmed the UVR-denominated senior secured notes for COP 522 billion due in 2044 at BB+ and AA(col).

“The negative outlook reflects the uncertainty related to the time and shape that the 2022 inflation catch-up on tariffs could have, as Fitch believes that the lack of a tariff catch up or a delayed one, could negatively impact Ruta al Mar's liquidity position and credit quality to the point that financial metrics would be consistent with a lower rating.

“The project's sponsor expects to be able to execute a tariff catch up and to receive a lost revenue compensation payment from grantor Agencia Nacional de Infraestructura (ANI) in the near term, although no official announcement has been made,” the agency said in a press release.

© 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.