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Autopistas del Sol S.A. Ratings Downgraded To 'CC' From 'CCC' On Debt Restructuring Announcement; Outlook Negative
Standard & Poors, Nov 2009
Abstract
Autopistas del Sol has announced that its board of directors has decided to initiate a debt restructuring process, including an upcoming nearly $9 million interest payment due on Nov. 23, 2009. We are lowering the ratings on the company to 'CC' from 'CCC' with a negative outlook. We expect to lower the ratings to 'D' upon failure to meet the scheduled payment on Nov. 23, 2009. BUENOS AIRES (Standard & Poor's) Nov. 10, 2009--Standard & Poor's Ratings Services lowered its ratings on Autopistas Del Sol S.A. (Ausol), including the corporate credit rating, to 'CC' from 'CCC'. The outlook is negative. Ausol holds the concession to operate and collect tolls until 2020 on the Autopistas del Sol Highway System, one of...
Companies mentioned in this report are: Autopistas Del Sol S.A.,Argentina (Republic of) (Unsolicited Ratings),Buenos Aires (City of)
Action: Downgraded
Action: Outlook: Negative
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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