The Mexican government will soon start selling off operating concessions for highways that it rescued in the aftermath of the Tequila Crisis of 1994. The first batch of roads is slated to land on the auction block next month, and players are already mentioning ABS in the same breath as Farac, the Spanish abbreviation for the trust responsible for administering the toll roads.

"[In the realm of infrastructure], this year everyone is focused on Farac," said Luis de la Pena, business director of Mexican structured finance at BBVA Bancomer. "If the [first] bid takes place in July, we could see a securitization of the tolls as soon as January."

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