According to a new report by Fitch Ratings, most of the transport infrastructure sector under its portfolio received a Stable Outlook. This is despite the weak economic condition that continued to prevail in many European economies.

68% of the firm's portfolio now has a Stable Outlook rating, increasing from 51% in December 2012. This percentage increase was reflective of a downgrade of credit rating.

The rating was based on a careful forecast that took into consideration all of the main credit drivers including cost of debt, opex, capex, volume and price. The ratings also mainly applied to debt serviced by mature infrastructure asset cash flow. These infrastructure assets included essential rail links, diversified seaports, large hub airports, and mature toll-road networks.

However, assets exposed to weakened economies such as Italy, Spain and Portugal, even the more resilient ones, received a Negative Outlook. This rating applied mostly to peripheral projects that received downgrading and which maintained poor prospects.