trending Market Intelligence /marketintelligence/en/news-insights/trending/rmwfo_vlpm3jujvdbeisew2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Fitch downgrades Italy's Atlantia, Austostrade; Spain's Abertis also hit

Essential Energy Insights - May 14, 2020

Paypal Well-Positioned To Gain Share In COVID-Related Digital Payments Shift

Credit Analytics Case Study: Provogue (India) Limited and Shree Renuka Sugars

COVID-19: From Safe Harbor to Rough Seas – The Choppy Outlook for US Public Finance


Fitch downgrades Italy's Atlantia, Austostrade; Spain's Abertis also hit

Fitch Ratings hit Italy's Atlantia SpA and its subsidiary Autostrade per l'Italia SpA with a rating downgrade following the completion of the parent's deal for Spanish toll road operator Abertis Infraestructuras SA on Oct. 29.

The rating agency also lowered Abertis' long-term issuer default rating to BBB from BBB+ with a stable outlook. The senior unsecured rating of Atlantia's €10 billion medium-term note program was lowered to BBB from BBB+, and Autostrade's long-term issuer default rating was downgraded to BBB+ from A- with a negative outlook.

Fitch said the downgrade reflects the companies' material re-leveraging as a result of the acquisition.

The debt watcher also cited Atlantia's solid liquidity position and the financial flexibility embedded in its balance sheet, while Abertis' rating reflects its geographically diversified portfolio of mature assets and the large, albeit diminishing, financial flexibility of its balance sheet.

Meanwhile, Fitch affirmed the issuer default rating of airport operator Aeroporti di Roma SpA at BBB+ and revised the outlook to negative from stable.