Italian City of Rome Lowered To 'A' On Disclosure Of Contingent Liabilities; Outlook Negative
Standard & Poors, July 2008
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) July 23, 2008--Standard & Poor's Ratings Services said today that it has lowered its long-term issuer credit rating on the Italian City of Rome to 'A' from 'A+'. The outlook is negative. Consequently, Standard & Poor's also lowered its long-term issuer credit rating on Rome's public transportation company ATAC SpA to 'A-' from 'A'. The 'A-2' short-term issuer credit rating on ATAC was affirmed. The outlook on ATAC SpA is negative, reflecting that on Rome. The downgrade of Rome results from the analysis carried out by Standard & Poor's over the past month on the back of the audit completed by the Italian Treasury at the end of June and following further due diligence conducted with...
Companies mentioned in this report are: Rome (City of),ATAC SpA
Action: Downgraded
Action: Outlook: Negative
Rome (City of),ATAC SpA
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