Fitch affirms Finmeccanica

Fitch Ratings said it affirmed Finmeccanica SpA's ratings at senior unsecured BBB and short-term F2.

The outlook is stable.

This follows Finmeccanica's announcement that it will acquire, subject to regulatory approvals, 52.7% of Datamat SpA, a company active in the development of avionic and naval mission systems and integrated solutions for the defence and space sectors, for €151 million.

Once the acquisition is completed, Finmeccanica is expected to launch a takeover bid for the remaining shares that will result in a total cash consideration of €270 million for 100% of Datamat.

Finmeccanica has announced that it will finance this transaction from its own resources.

Fitch said it considers that this transaction will not materially alter the group's financial profile, as the cash outflow would be partially compensated by the proceeds from the listing of its 100%-owned subsidiary Ansaldo Signal NV, which is expected to take place between end- 2005 and early 2006.

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