Atlixco-Jantetelco Upgraded by Fitch

Mexico’s Atlixco-Jantetelco toll road was upgraded to positive outlook from stable by Fitch. According to the ratings agency, it downgraded several transportation assets in the wake of the financial crisis. The outlook change represents Fitch’s first positive rating action since the crisis, it says, as economic stabilization is leading to improving trends in toll road performance. Fitch also says it expects growth from Atlixco-Jantetelco, which has proved resilient to the global crisis and performed well over the last several months. It also carries a closed debt structure that forces prepayment of debt with excess cashflow. Atlixco-Jantetelco registered a 2.3% decline in traffic in 2009, better than other Mexican toll roads. In the first 9 months of 2010, revenues in real terms increased by 16.1%, according to Fitch. The ratings agency says it believes debt amortization will occur at a faster rate than originally scheduled. Atlixco-Jantetelco is a 34.2 mile road, operated by Opervite.