SANTA CRUZ DE TENERIFE, Nov. 15 (EUROPA PRESS) –
Metrotenerife, a public company attached to the Cabildo de Tenerife, once again obtains an excellent short- and long-term credit rating from Standard & Poor’s (S&P), which means that it is considered a company capable of dealing with its debts and that, therefore, it has a low investment risk.
Specifically, this international risk rating agency has referred to the issuance of Green Bonds by the Tenerife company as a successful operation that has enabled it to consolidate its financial position.
The insular councilor for Mobility and president of Metrotenerife, Enrique Arriaga, explains in a note that Standard & Poor’s values the refinancing of the debt and that it strengthens financial management.
“This allows us to obtain higher levels of liquidity, as stated in the agency’s report. In addition, it is expected that we will close the 2022 financial year with good economic results due to the recovery of passengers and the substantial savings in financial costs that we have achieved” , points out.
In general terms, Standard & Poor’s considers that the management and governance of the Tenerife operator is prudent with respect to debt and uses conservative planning.
For this reason, it has been awarded the highest possible rating for a public company, which once again recognizes it as a stable issuer, as the April report had already done.
In addition, the risk rating agency points out that the company’s position in the market could be strengthened given the Cabildo’s mobility strategy to expand railway lines and reduce the use of private vehicles.
