S&P affirms Aeropuertos Argentina

S&P said it affirmed its B+ corporate credit and issue-level ratings on Aeropuertos Argentina 2000 (AA2000) and its bb+ stand-alone credit profile.

The outlook is stable.

“Our ratings affirmation reflects our view that AA2000's credit quality continues to be limited by that of the sovereign, although it would be able to withstand a hypothetical sovereign stress scenario given its strong cash flow generation,” the agency said in a news release.

“The rating also reflects our view of AA2000 as a core entity to Corporación America (not rated), given that AA2000 is integral to the group's strategy and represents most of its EBITDA generation.”

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