- Published: May 2010
Summary: Aeroporti di Roma SpA
- Published: October 2003
- Standard & Poors
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
The ratings on Aeroporti di Roma SpA (AdR) reflect the company's strong market position, high proportion of origin and destination (O&D) traffic, and manageable capital-expenditure program. These strengths are offset, however, by AdR's very aggressive financial profile and dependence on Alitalia, Italy's weak flag carrier. AdR has a concession until 2044 to operate the two airports serving the Italian capital, Rome: Leonardo da Vinci Airport at Fiumicino (FCO) and G.B. Pastine Airport at Ciampino (CIA). AdR is the largest airport operator by destination in Italy, and in 2002 handled 26.3 million passengers. AdR's strong business profile is underpinned by Rome's status as the country's political hub and a prominent religious center, which attracts a steady stream of passengers through the...
Companies mentioned in this report are: Aeroporti di Roma SpA
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Aeroporti di Roma SpA
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