Moody's upgrades ViaLagos

Moody's Investors Service said it upgraded Concessionaria da Rodovia dos Lagos SA's (ViaLagos) corporate family ratings and senior unsecured ratings to Ba2/Aa3.br from Ba3/A2.br.

The agency also said it assigned Ba2/Aa3.br ratings to the R$41 million senior unsecured debenture issuance due in 2020.

The outlook remains stable.

The upgrades reflect the improvement in traffic performance with 4.9% growth registered in 2017 from 2016, Moody's said.

The company continues to register overall strong credit metrics and that is expected to continue due to continued economic growth and improved traffic performance, the agency said.

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