S&P rates the first Spanish project bond to hit the market in a long time

It has been a while since a Spanish project bond was rated, but last month Standard & Poor’s issued their preliminary ‘BBB’ rating on motorway Project Sociedad Concesionaria Autovia de la Plata. The Spain-based ProjectCo plans to issue €186 million fixed-rate senior secured bonds, which will be used to finance the construction, operation, and maintenance of a 49km section of the A-66 motorway between Benavente and Zamora in the north-west of Spain. The rating, however, is capped by the rating on the Kingdom of Spain, which is considered an irreplaceable counterparty.

As a result of Moorgate outreach Inspiratia, FTSE Global Markets, Global Capital and InfraNews picked up the news. (Please note some of these articles lie behind a pay wall)

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>