GAP lines up local bond issue

GAP lines up local bond issue

Bonds Debt Capital Markets Fixed Income Mexico

Mexican airport operator Grupo Aeroportuario del Pacífico (GAP) plans to raise MXN3 billion ($160 million) from the sale of new 2025 notes in the local market, the seventh issue under a five-year, MXN15 billion debt program, rating agency Moody's said in a report. Moody's gave the upcoming notes an A3 rating on the global scale and a on the local scale, citing the 8.4% increase in passenger traffic at GAP's airports in 2019. Both ratings have a stable outlook. "The ratings also reflect GA

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