Fitch Maintains Concesionaria Mexiquense on Rating Watch Negative

MONTERREY, Mexico--(BUSINESS WIRE)-- Fitch Ratings has affirmed the 'BBB' and 'AAA(mex)' ratings assigned to the following Concesionaria Mexiquense, S.A. de C.V. (Conmex) debt issuances and maintained them on Rating Watch Negative:

--UDI1.6 billion notes due 2035;

--UDI0.6 billion notional amount zero-coupon notes due 2046;

--MX$6.5 billion Goldman Sachs loan due 2027.

Fitch has also maintained on Rating Watch Negative the 'AAA(mex)' rating on the UDI1.5 billion notes placed in the local market in August 2014.

The decision to maintain the Negative Watch assigned in May 2015 reflects the fact that at present there is no resolution with respect to the audits and investigations conducted by the Mexican authorities in relation to the alleged illicit activities involving OHL Mexico (sponsor). The ultimate outcome of these investigations could lead to the resolution of the Negative Watch.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria

Metodologia de Rating para Infraestrutura e Financiamento de Projetos (pub. 05 Nov 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=873384

Metodologia de Calificacion para Autopistas de Cuota, Puentes y Tuneles (pub. 12 Aug 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=869706

Rating Criteria for Infrastructure and Project Finance (pub. 28 Sep 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=870967

Rating Criteria for Toll Roads, Bridges and Tunnels (pub. 29 Sep 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=870170

Additional Disclosures

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=995276

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151124006107/en/

Fitch Ratings
Primary Analyst
Astra Castillo
Director
+52-81-8399-9100
Fitch Mexico S.A. de C.V.
Prol. Alfonso Reyes 2612
Monterrey, Mexico 64920
or
Secondary Analyst
Jorge Torres
Analyst
+52-81-8399-9100
or
Committee Chairperson
Glaucia Calp
Senior Director
+57-1-326-9999
or
Media Relations:
Sandro Scenga, +1 212-908-0278
[email protected]

Source: Fitch Ratings

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