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BULLETIN: Macquarie Airports Group Acquires 44.7% Stake in Aeroporti di Roma
Standard & Poors, July 2002
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
Standard & Poor's said today that following preliminary discussions with management and new shareholders, the ratings on Aeroporti di Roma SpA (AdR; A-/Stable/A-2) are unlikely to be affected by yesterday's announcement that a consortium led by Macquarie Airports Group (MAG) will acquire 44.7% of AdR for -480 million. MAG will be a minority shareholder providing additional expertise to the company, but should exert limited influence on management and financial policies due to restrictions included in shareholder agreements. Standard & Poor's will shortly meet with management and new shareholders to carry out a comprehensive analysis of the potential effect of the new shareholder structure and expected refinancing. AdR has a concession until 2044 to operate two airports--Ciampino (CIA) and Fiumicino (FCO)--both...
Companies mentioned in this report are: Aeroporti di Roma SpA
Action: S&P Event
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