Fitch: Panama infrastructure companies view to negative

Fitch Ratings said it revised the outlook to negative from stable and affirmed the ratings on four issuers of the infrastructure sector in Panama: Autoridad del Canal de Panama, Aeropuerto Internacional de Tocumen SA, ENA Norte Trust and ENA Sur Trust. Fitch also affirmed the rating and outlook of ENA Este SA.

The rating actions follow the affirmation of Panama's long-term issuer default rating at BBB and the revision of its outlook to negative from stable. Fitch applies the government related-entities rating criteria in assigning credit ratings to the companies. The rating dependency and notching approach between each of these ratings and that of the Panama sovereign is a function of their standalone credit profiles, the strength of the linkage with the government and its incentive to support.

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