S&P Global Ratings on May 15 revised its outlook on Spain-based toll road operator Abertis Infraestructuras SA due to its pending takeover by Italian transportation group Atlantia SpA and Spanish construction firm ACS SA.
The rating agency raised the outlook to stable from developing to reflect Abertis' "integral role in Atlantia's identity and future strategy" following the takeover.
"If the transaction is completed, Abertis would become part of a wider and stronger group, and it might benefit from future integration, synergies, and support from the new controlling entity, Atlantia," S&P said.
The toll road network operator's long-term issuer credit and issue-level ratings were affirmed at BBB.
S&P also revised its outlook on Atlantia to stable from negative due to the deal reached with ACS in March on the joint acquisition of Abertis.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.
