S&P’s ratings on Spanish toll road operator and Russian railcar operator covered by InfraNews

Standard and Poor's logoSpanish toll road operator, Itinere Infraestructuras, recently launched a EUR 1.1bn refinancing for its motorway portfolio – with the plan to issue bonds of up to EUR 500 million, as well as a EUR 600 million loan, to refinance debt due in 2018. InfraNews covered the news, citing Standard and Poor’s preliminary ‘BB-’ rating with a stable outlook on the bond.

In other news, Russian railcar operator, Brunswick Rail – part-owned by Macquarie – faces allegations that it breached the terms of a secured facility agreement. Subsequently, Brunswick, which is rated by S&P, may have to “prepay” £113.6 million, which could ultimately impact their current rating or outlook.

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