May 10, 2018 |
Fitch Ratings has upgraded Terminales Portuarios Euroandinos Paita's (Paita) $110m in secured bonds to BB from BB- because of sustained volume and revenue growth, which the rating agency said exceeded its base case projections.
The Peruvian port operator is also on track to maintain this growth based on updated volume demand projections, Fitch said in a report on Wednesday.
Paita has completed the second phase of the port's development, in line with the concession agreement, and only incurred a
Peruvian port operator earns a lift to BB from BB- after it completed the second phase of its development schedule