Moody’s Raises Peru Toll Road Notes

Moody’s Raises Peru Toll Road Notes

Structured Finance

Moody's has upgraded Intersur Concessiones’ Interoceanica IV project bonds to Ba1 from Ba2. The $557m in zero-coupon 2025 and zero-coupon 2018 notes were issued from a trust and backed by CRPAO notes, which are certificates of completion issued by the Peruvian government. Proceeds of the deal fund the improvement, maintenance and operation of Segment 4 of the Corredor Vial Interoceanico Sur, a 306km toll road connecting Inambari to Azangaro. The ratings action follows Moody's upgrade of the fore

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