Moody’s ups Aeropuertos Argentina to B2/Aa2.ar

Moody's Investors Service said it upgraded Aeropuertos Argentina 2000 SA (AA2000) corporate family and senior unsecured debt ratings to B2 from B3.

The outlook is stable.

At the same time, Moody's Latin America upgraded the company’s national scale corporate family and senior unsecured debt ratings to A2.ar from Baa1.ar.

Moody’s said the upgrade takes into consideration Aeropuertos Argentina’s strong traffic and revenue trends that, in spite of the local economic recession in recent years, translated into very strong credit metrics for the rating category.

The upgrade also considers the significant proportion of revenues originated by international travel into Argentina, that the agency estimates account for roughly 20% of Aeropuertos Argentina total revenues, that help de-link the credit quality of the issuer from local economic conditions, coupled with the fact that most of the issuer's revenues are denominated or linked to the U.S. dollar.

© 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.