Drew Campbell, i3 senior editor, spoke with S&P Global Ratings analysts about what 2019 may bring for transportation infrastructure globally. The participants were: Candela Macchi, director, Infrastructure, Latin America; Dhaval Shah, director, Infrastructure, North America; Julyana Yokota, director, Utilities & Infrastructure, Latin America; Richard Timbs, senior director, Infrastructure Sector Lead Pacific Region; Tania Tsoneva, director, Infrastructure & Utilities, EMEA.

For 2019, what is the outlook for the transportation infrastructure sector?

S&P: The outlook across all regions is mostly stable. And although the global economic slowdown may cool growth prospects, we do not envision a retraction in absolute revenues for transport operators. In fact, average EBITDA [earnings before interest, tax, depreciation and amortization] margins across global transportation infrastructure assets holds at 30 percent in our forecast for 2019 and 2020: t