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Austrian Road Project Ostregion 'B+' Long-Term Ratings Affirmed, Off Watch Negative On Fading Insolvency Prospects Dec 11
Standard & Poors, Dec 2011
Abstract
We recently received information from Bonaventura, the operator of an Austrian road project financed through special-purpose vehicle Ostregion, which leads us to understand the risk of the operator being declared insolvent is remote in the short-to-medium term. We are affirming our 'B+' long-term debt ratings on Ostregion's senior secured bonds and loan. At the same time we are removing the ratings from CreditWatch negative. The stable outlook reflects our view of stable, though relatively tight, senior debt service coverage ratios, and potential minimal use of the project's debt service reserve account during the remainder of the project's life. MADRID (Standard & Poor's) Dec. 19, 2011--Standard & Poor's Ratings Services today said it affirmed the 'B+' long-term ratings on the -425...
Companies mentioned in this report are: Ostregion Investmentgesellschaft Nr. 1 S.A.
Action: Affirmed
Action: Removed From CreditWatch
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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