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Atlantia SpA And Autostrade per l'Italia SpA 'A/A-1' Ratings Put On CreditWatch Negative Apr 09
Standard & Poors, April 2009
Abstract
MADRID (Standard & Poor's) April 9, 2009--Standard & Poor's Ratings Services said today that it placed its 'A/A-1' credit ratings on Italy-based toll road operator Autostrade per I'Italia SpA (ASPI) and its 100% owner, Atlantia SpA, on CreditWatch with negative implications. 'The CreditWatch placement reflects our increasing concerns that Atlantia's credit-protection metrics might not be strong enough to support an 'A' rating,' explained Standard & Poor's credit analyst Jose R. Abos. 'We believe Atlantia's debt burden could increase on the back of sluggish operating cash-flow generation and a large fixed-investment program, leading to ongoing deterioration of financial ratios.' 'Supporting the ratings on Atlantia are the expected smaller decline in traffic on Atlantia's roads than those of most of its peers...
Companies mentioned in this report are: Atlantia SpA,Autostrade per I'Italia SpA
Action: On CreditWatch:Negative
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.
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