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Prelim 'BBB-/AAA' Ratings Assigned to Autovia del Camino €175 Mil Gtd Bank Loan;Outlook Stable May 04 Product Image

Prelim 'BBB-/AAA' Ratings Assigned to Autovia del Camino €175 Mil Gtd Bank Loan;Outlook Stable May 04

  • ID: 2029274
  • May 2004
  • Standard & Poors

FEATURED COMPANIES

  • Autovia del Camino S.A.
  • European Investment Bank
  • MORE

Abstract
MADRID (Standard & Poor's) May 24, 2004--Standard & Poor's Ratings Services said today that it has assigned its preliminary 'AAA' insured and 'BBB-' underlying debt ratings to the €175 million senior amortizing loan granted by the European Investment Bank (EIB) to Autovia del Camino S.A., a shadow toll road in the Autonomous Community of Navarre (a region in northern Spain; AA+/Stable/--). The loan matures in 2027. The outlook on both preliminary ratings is stable. "Autovia del Camino is the first toll road in Spain to be publicly rated by Standard & Poor's," said Standard & Poor's credit analyst Lidia Polakovic. The insured 'AAA' rating reflects the unconditional and irrevocable guarantee provided by XL Capital Assurance (U.K.) Ltd. (AAA/Stable/--) of payment...

Companies mentioned in this report are:
- Autovia del Camino S.A.
- European Investment Bank
- Navarre (Autonomous Community of)
- Syncora Guarantee U.K. Ltd.

Action: New Rating

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.

Note: Product cover images may vary from those shown

- Autovia del Camino S.A.
- European Investment Bank
- Navarre (Autonomous Community of)
- Syncora Guarantee U.K. Ltd.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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