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Aeroporti di Roma 'BB/B' Ratings Affirmed On Swap Counterparty Replacement; Outlook Negative On Regulatory Uncertainty
Standard & Poors, May 2010
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
Aeroporti di Roma's securitization vehicle, Romulus Finance, has found a replacement swap counterparty. We are affirming our 'BB/B' ratings on AdR and have removed the ratings from CreditWatch negative. The negative outlook reflects the pressure caused, in our view, by the protracted process for agreeing a new regulatory contract, coupled with the need for AdR to start addressing well in advance the refinancing of its -170 million bank loan due in February 2012. PARIS (Standard & Poor's) May 11, 2010--Standard & Poor's Ratings Services said today that it has affirmed its 'BB' long-term corporate credit ratings on Italian airport operator Aeroporti di Roma SpA (AdR) and removed them from CreditWatch with negative implications where they had been placed on Oct....
Companies mentioned in this report are: Aeroporti di Roma SpA
Action: Affirmed
Action: Outlook: Negative
Action: Removed From CreditWatch
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