Aeroporti di Roma SpA Cut To 'BB' On Expected Traffic Decline; '3' Recovery Rating Unchanged; Outlook Stable Apr 09

  • ID: 1723520
  • April 2009
  • Standard & Poors
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PARIS (Standard & Poor's) April 10, 2009--Standard & Poor's Ratings Services said today that it lowered its long-term corporate credit rating on Italian airport operator Aeroporti di Roma SpA (AdR) to 'BB' from 'BB+', reflecting an expected weakening in AdR's financial profile in 2009. The ratings were removed from CreditWatch with negative implications, where they were placed on Sept. 22, 2008. The 'B' short-term corporate credit rating was affirmed and was also removed from CreditWatch. The outlook is stable. Our '3' recovery rating on AdR's €270 million credit facilities is unchanged, indicating our expectation of meaningful (50%-70%) recovery in the event of a payment default. "The downgrade mainly reflects our expectation of a weakening in AdR's financial profile in 2009...

Companies mentioned in this report are:
- Aeroporti di Roma SpA

Action: Downgraded

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Research type: News
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- Aeroporti di Roma SpA

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