IAMSA unit eyes bus securitization

IAMSA unit eyes bus securitization

Structured Finance

Mexican bus company Grupo Herradura Occidente (GHO) plans to raise up to MXN3bn ($229m) through the sale of a securitization. Standard & Poor’s assigned an AA- local rating to the possible 15-year amortizing deal. HR Ratings has assigned an AA+ rating. The notes will be backed by GHO’s transport assets, which include nearly 700 buses and future ticket sale revenues. BBVA, HSBC, Finamex and Santander will lead the transaction. GHO is part of the IAMSA transport conglomerate, which

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