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Moody’s revises Astaldi to negative
Moody's Investors Service said it changed the outlook on Astaldi SpA to negative from stable and affirmed the B1 corporate family rating, B1-PD probability of default rating and the B1 senior unsecured ratings.
"The change in outlook to negative has been driven by the delayed sale of concession assets leading to leverage ratios which are outside of the range for a B1 rating for a longer than anticipated time, and the weakening liquidity profile of the company," Matthias Heck, Moody's lead analyst for Astaldi, said in a news release.
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