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Aeroporti di Roma SpA Affirmed At 'BBB-/A-3' After Rights Issue; Off Watch Neg; Outlook Stable
Standard & Poors, Dec 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
PARIS (Standard & Poor's) Dec. 14, 2007--Standard & Poor's Ratings Services said today that it affirmed its 'BBB-/A-3' long- and short-term corporate credit ratings on Italian airport operator Aeroporti di Roma SpA (AdR), after a -1.25 billion capital increase. All ratings were removed from CreditWatch with negative implications, where they had been placed on June 14, 2007. The outlook is stable. 'The affirmation reflects a successfully completed -1.25 billion capital increase by 96%-owner Gemina SpA (not rated) and subsequent repayment of Gemina's acquisition debt of the same amount, incurred when buying out a 45% stake in AdR held by Macquarie Airports (MAp) in July 2007,' said Standard & Poor's credit analyst Alexandre de Lestrange. The ratings on AdR reflect the...
Companies mentioned in this report are: Aeroporti di Roma SpA
Action: Affirmed
Action: Removed From CreditWatch
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