Citi upgrades Ferrovial as I-24 payment structure eases cash concerns
In short
Citi improved its market rating for infrastructure operator Ferrovial following key project developments. The upgrade was driven by the specific payment terms established for the I-24 project. These structural payment terms successfully mitigated market concerns regarding the company's available cash reserves.
Key points
- Citi revised its assessment of Ferrovial upward due to reduced liquidity anxieties.: Citi revised its assessment of Ferrovial upward due to reduced liquidity anxieties.
- The execution of the I-24 project payment framework alleviated pressing financial concern…: The execution of the I-24 project payment framework alleviated pressing financial concerns.
- Ferrovial gained market confidence as structured project payments relieved overall cash p…: Ferrovial gained market confidence as structured project payments relieved overall cash pressure.