S&P pulls Aeropuertos Argentina from watch

S&P said it affirmed Aeropuertos Argentina 2000 CCC+ ratings and removed them from CreditWatch with negative implications. The agency assigned a negative outlook.

The company recently refinanced a principal amortization payment due last month.

“We perceive that AA2000's cash flows remain under pressure, despite the resumption of flights in September 2020. Despite the steady recovery in air traffic, we also note that it started from extremely low levels while the company's debt repayments will resume in 2021. AA2000 is still vulnerable and dependent upon favorable business, financial, and economic conditions to meet its financial commitments in 2021,” S&P said in a press release.

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