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BULLETIN: Ratings In Italian Government's Infrastrutture Program Unchanged After CDP Merger Jan 06
Standard & Poors, Jan 2006
Abstract
LONDON (Standard & Poor's) Jan. 3, 2006-Standard & Poor's Ratings Services said today that following the merger of Infrastrutture SpA (ISPA) into Cassa Depositi e Prestiti SpA ( CDP), there are no changes to the 'AA-' ratings on the notes issued by Infrastrutture SpA (see list below). Infrastrutture issued each series of notes under its -25 billion High-Speed Railway Funding Note Programme, used to fund a north-south railway system in Italy. The merger of ISPA into CDP, is effective from Jan. 1, 2006, and follows the enactment of articles 79 to 83 of law number 266 of Dec. 23, 2005. As a result of the merger, CDP will assume all legal rights and obligations of ISPA, including the 'patrimonio separato'...
Companies mentioned in this report are: Infrastrutture SpA,Italy (Republic of) (Unsolicited Ratings),Cassa Depositi e Prestiti SpA
Action: Bulletin
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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