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Macquarie Infrastructure refinances IMTT.


Macquarie Infrastructure Corporation (NYSE: MIC) said its International-Matex Tank Terminals subsidiary has completed a refinancing of approximately USD1.7 billion of long-term debt and revolving credit facilities.

The Standard & Poor's and Fitch rating agencies have reviewed the financial condition of IMTT and both have assigned investment grade ratings of BBB- with a Stable outlook to the credit. The ratings were announced by the agencies in press releases published this morning.

"We are pleased with the outcome of the refinancing of IMTT and the receptivity of the market to the credit," said James Hooke, chief executive officer of MIC. "The issuance of investment grade credit ratings by both S&P and Fitch underscores the sound financial condition of the business."

Proceeds of the new debt package not used to refinance existing facilities will be available to fund growth projects at IMTT or other of MIC's businesses.

Macquarie Infrastructure Corporation owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the United States.

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Publication:Airline Industry Information
Date:May 26, 2015
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