OREANDA-NEWS. S&P Global Ratings affirmed its 'BBB+' global scale issue-level rating on Red de Carreteras de Occidente S. A.B. de C. V.'s (RCO's or the project) MXN7.5 billion senior secured notes due 2028. We also affirmed our 'mxAAA' national scale issue-level rating on RCO's MXN2.8 billion 9% senior notes due 2027 (RCO12) Unidad de Inversion (UDI)1.5 billion 5.25% senior notes due 2032 (RCO12U), and MXN4.4 billion 9.05% senior notes due 2030 (RCO14). The outlook on all issue ratings remains stable. The rating affirmation reflects the project's strong DSCR due to steady growth in traffic and toll revenue in 2015 and our expectations that this trend will continue in the next two years. We believe traffic will continue to rise given the sustained economic growth, particularly the manufacturing industry, in the local area.


The 2016 GO bonds are being issued to refund the city's outstanding sewer obligations.The 2016 GO bonds are being issued to refund the city's outstanding sewer obligations.The 2016 GO bonds are being issued to refund the city's outstanding sewer obligations.The 2016 GO bonds are being issued to refund the city's outstanding sewer obligations.