As a result of Moorgate outreach, Consenso del Mercado (Market Consensus) – a Spanish online magazine covering the financial markets and economic news – published Standard & Poor’s new long-term rating of ‘BBB’ on Spain’s Autopista del Sol (AUSOL), a 96-kilometre section of the AP7 road between Fuengirola and Guadiaro in southern Spain. At €507 million, AUSOL’s bond will be used to refinance an existing loan for the construction, operation, and maintenance of the road. The ‘stable’ outlook reflects S&P’s expectation of a steady recovery in traffic volumes – based on anticipated growth of the Spanish economy – as well as AUSOL’s considered stable operations. The road is owned by the Ferrovial Group, a global operator of services and infrastructure, whose creditworthiness affected the rating.
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