Research Update: City of Rome 'A+' Rating Placed On CreditWatch Negative Following A Possible Weakening Of Government Support

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.

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.

Abstract
The Italian council of ministers approved a package of fiscal measures regarding the City of Rome (Rome). We are placing our 'A+' long-term issuer credit rating on Rome on CreditWatch with negative implications. We plan to resolve the CreditWatch status in the next three months, once the parliament passes the law ratifying the central government's fiscal package for Rome. On May 27, 2010, Standard & Poor's Rating Services placed its 'A+' long-term issuer credit rating on the Italian City of Rome on CreditWatch with negative implications. The CreditWatch placement results from a package of fiscal measures regarding the City of Rome (Rome), which was approved by the Italian council of ministers on May 25, 2010. We expect the fiscal package...

Companies mentioned in this report are: Rome (City of)
Action: On CreditWatch:Negative

Rome (City of)

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