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Aeropuertos Argentina 2000 S.A.
Standard & Poors, April 2011
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: Full Analysis
Abstract
Strong competitive position derived from its exclusive concession to operate 33 airports in Argentina. Manageable debt maturity profile. Exposure to the volatile and changing Argentine regulatory and political environment. Limited regulatory track record under its renegotiated concession contract. Inherent volatility of air traffic activity. Standard & Poor's Ratings Services' long-term corporate credit rating on Argentine airport operator Aeropuertos Argentina 2000 S.A. (AA2000) mainly reflects its exposure to Argentine country risk, the inherent volatility to passenger traffic (which depends on various factors such as the level of economic activity, international events such as terrorist attacks, geopolitical tensions, and epidemics, and the exchange rate evolution), the challenge of implementing the investment plan (including construction risk), and a relatively high counterparty exposure with...
Companies mentioned in this report are: Aeropuertos Argentina 2000 S.A.,Argentina (Republic of) (Unsolicited Ratings)
Action: Review
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