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'BBB-' Rating Affirmed on Constructora Internacional de Infraestructura S.A. de C.V. Bonds Nov 04
Standard & Poors, Nov 2004
Abstract
MEXICO CITY (Standard & Poor's) Nov. 8, 2004-Standard & Poor's Ratings Services today affirmed its 'BBB-' foreign currency rating on Constructora Internacional de Infraestructura S.A. de C.V.'s (CIISA) US$452.4 million syndicated bank facility due 2007 and US$230 million bonds due 2008 for the construction financing of a US$754.09 million (after the approved first change order for US$6.09 million) hydropower project in the state of Nayarit, Mexico, is linked to that of Comision Federal de Electricidad (CFE; foreign currency BBB-/Stable/--, local currency BBB+/Stable/--), the project off-taker. The outlook is stable. The El Cajon project is the most important power sector project for Mexico's current federal administration. CFE benefits greatly from the ownership, close link, and direct and indirect controls the government...
Companies mentioned in this report are: United Mexican States,Comision Federal De Electricidad (CFE)
Action: Affirmed
Action: Outlook: Stable
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
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