OTTAWA, November 24, 2017 – The Federal Bridge Corporation Limited (FBCL) is pleased to announce that, S&P Global Ratings published its outlook for FBCL which has been revised to positive from stable on improving debt metrics while affirming its ‘A’ rating.
The reasons cited for the improved rating were based on the findings that the Corporation could raise tolls as necessary, that there is a diversity of assets and that it is linked to the Government of Canada through its status as a Crown corporation.
The S&P Global Ratings report further revealed, “The positive outlook reflects our expectation that, in the next two years, FBCL’s traffic will be relatively stable and, with the corporation’s determined debt reduction strategy, its debt metrics will improve, and the reduced financial risk will offset increased business risk that could come from trade negotiations and a medium-term increase in competition.”
In response to the S&P Global Rating improved outlook, Micheline Dubé, President and Chief Executive Officer, stated, “The Corporation continues to apply prudent fiscal management practices to its operations. We are delighted that S&P Global Ratings has recognized the ongoing efforts of the FBCL Board of Directors, the management team and all FBCL employees in achieving today’s result.”