Moody's ups Aeroporti di Roma, Romulus

Moody's Investors Service said it upgraded the debt ratings of Aeroporti di Roma SpA and its financing affiliate, Romulus Finance srl, by two notches to Baa3 from Ba2.

The outlook is stable.

Moody's said the action follows the finalization of the regulatory settlement applicable to Aeroporti di Roma, which has introduced a more supportive and transparent framework of economic regulation, providing greater visibility in respect of the company's rights and obligations under the concession agreement to operate the Rome airport system for the whole concession period (i.e. to 2044), and has implemented a new tariff-setting mechanism.

However, Moody's also noted that the new regulatory framework represents a significant change from the past and will result in a material step-up in Aeroporti di Roma's revenues. Hence its robustness remains untested.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.