Standard & Poor’s certifies the management success of Metrotenerife
Metrotenerife has been rated assigned by Standard & Poor’s A type long-term and A-1 short-term ‘A/A-1’ long- and short-term ratings, with outlook stable.
The first vice-president of the Island Government, Enrique Arriaga, explains that this calcification “is part of the process that we have initiated for two months ago to refinance the company debt. for debt refinancing of the company with the goal to approach a management even more efficient”.
It is the best rating of investment-grade from a public organization in Spain and show the strength of the credit profile of Metrotenerife, as well as, of the Island Government, as the sole stockholder shareholder of the transport company.
The financial strength is based on solid standards for operating performance and healthy EBITDA generations, a prudent and realistic financial planning, a transparent and experienced management team and its innovation with the in-house developed safety system (SIMOVE) and the smartphone payment system (ten+movil) that provides to national and international companies of the tram sector.