- Language: English
- Published: January 2011
- Region: Europe
Research Update: Aeroporti di Roma 'BBB-/A-3' Ratings Put On Watch Negative As Alitalia Takeover Bid Withdrawn
- Published: September 2008
- 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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
On Sept. 22, 2008, Standard & Poor's Ratings Services placed its 'BBB-' long- and 'A-3' 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 bank facilities were also placed on CreditWatch negative. The 'AA' senior secured debt ratings on the -1.2 billion equivalent notes issued by Romulus Finance and guaranteed by Ambac Assurance U.K. Ltd. (AA/Negative/--) were not placed on CreditWatch. The CreditWatch placement reflects the increasing short-term risk to AdR's credit quality posed by the possible bankruptcy of Alitalia. On Sept. 18, 2008, the Italian consortium negotiating the takeover of Alitalia withdrew its offer, after failing...
Companies mentioned in this report are: Aeroporti di Roma SpA
Action: On CreditWatch:Negative
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Aeroporti di Roma SpA