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Preliminary Rating Assigned in Second Italian High-Speed Railway Funding Securitization Jun 04

  • ID: 2043044
  • June 2004
  • Region: Italy
  • Standard & Poors
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LONDON (Standard & Poor's) June 25, 2004--Standard & Poor's Ratings Services said today that it assigned a preliminary 'AA' credit rating to the limited-recourse notes series 4 to be issued by Infrastrutture SpA, the high-speed railway funding note program. The exact amount to be issued is to be determined, but may be about €1 billion. This issue is very similar to the series 1, 2, and 3 issuance. "It uses the same special legal framework created to support the previous deal, which closed in February 2004," said Fabio Tamburrano, a credit analyst in Standard & Poor's Structured Finance Ratings group in London. "Under this framework, amounts due under the loans and proceeds from the operation of the railway system are...

Companies mentioned in this report are:
- Infrastrutture SpA
- Italy (Republic of) (Unsolicited Ratings)

Action: Preliminary Rating

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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- Infrastrutture SpA
- Italy (Republic of) (Unsolicited Ratings)

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