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Aeroporti di Roma SpA
Standard & Poors, Sep 2001
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
The ratings on Aeroporti di Roma SpA (AdR) reflect its strong business position, offset by its relatively aggressive financial profile. AdR has a concession until 2044 to operate two airports, Ciampino (CIA) and Fiumicino (FCO), both of which serve Rome, Italy's capital. The city is also Italy's political center and one of the world's main religious centers and therefore attracts a steady stream of tourists. The company has a traditionally strong position in the domestic Italian market and is situated in a relatively large and affluent catchment area. Its position as an international hub, however, was weakened following a political decision in 1998-1999 to move most of the Italian flag carrier, Alitalia's, intercontinental flights from Rome to Milan. In 2000,...
Companies mentioned in this report are: Aeroporti di Roma SpA
Action: Review
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