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Explanation: Basically what this means is that the debt of the concession holders will be non-recourse; i.e. in the event of default there is no unlimited recourse to the parent company. I have seen this in government granted concessions where a project company/consortium is formed by parent companies taking only limited liability for the debt incurred for the project/concession.
Life as an investment banker in Mexico.
smudge Native speaker of: English PRO pts in pair: 16