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BULLETIN: Costanera Ratings Unaffected By AutoStrade's Negative CreditWatch Listing Apr 06
Standard & Poors, April 2006
Abstract
BUENOS AIRES (Standard & Poor's) April 28, 2006--Standard & Poor's Ratings Services said today that its 'BBB' underlying rating (SPUR) on the approximately US$270 million equivalent fixed-rate notes issued by toll road operator Sociedad Concesionaria Costanera Norte S.A. (Costanera) will not be affected by the placement of the ratings on sponsor Autostrade SpA (A/Watch Neg/A-1) on CreditWatch with negative implications following the recent announcement of the merger between Autostrade and Abertis Infraestructuras S.A. (A/Watch Neg/--), one of Spain's largest infrastructure operators. As announced in our March 31, 2006, report, we expect to affirm the SPUR on Costanera's fixed-rate notes following receipt of final documentation about the change of control and new subordinated debt that the project will take on. Because...
Companies mentioned in this report are: Sociedad Concesionaria Costanera Norte S.A.,Atlantia SpA,Abertis Infraestructuras S.A.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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