Prelim 'BBB-/AAA' Ratings Assigned to Autovia del Camino €175 Mil Gtd Bank Loan;Outlook Stable May 04
- ID: 2029274
- May 2004
- Standard & Poors
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
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