S&P affirms Bina-Istra bonds at BB+

Standard & Poor's said it affirmed its BB+ debt rating on the €210 million senior secured bonds due 2022 issued by Croatia-based road company Bina-Istra, d.d.

The outlook is stable.

Bina-Istra is the concession company that is financing, designing, constructing and operating phase 1B of the Istrian Motorway Project, a 145-kilometer tolled motorway on the Istrian Peninsula in the Republic of Croatia (foreign currency BBB/stable/A-3; local currency BBB+/stable/A-2). Phase 1B comprises three subphases and will stretch 55 kilometers, 6.1 km of which is an existing road.

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