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Aeroporti di Roma 'BBB/A-2' Ratings On Watch Negative; Possible Shareholder Structure Changes
Standard & Poors, June 2007
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
MILAN (Standard & Poor's) June 14, 2007--Standard & Poor's Ratings Services said today that it placed its 'BBB' long- and 'A-2' short-term corporate credit ratings on Italian airport operator Aeroporti di Roma SpA (AdR) on CreditWatch with negative implications. At the same time, Standard & Poor's 'BBB' senior secured debt ratings on AdR's -391.4 million bank facilities and the -65 million unwrapped notes issued by Romulus Finance S.r.l., a borrowing vehicle used by AdR, were also placed on CreditWatch negative. The 'AAA' senior secured debt ratings on the -1.2 billion equivalent notes issued by Romulus Finance and guaranteed by AMBAC Assurance U.K. Ltd. (AAA/Stable/--) and AdR's -56.1 million bank loan guaranteed by CIFG Europe (AAA/Negative/--) were not placed on CreditWatch....
Companies mentioned in this report are: Aeroporti di Roma SpA
Action: On CreditWatch:Negative
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