Fitch: Autostrada Brescia bond view to stable

Fitch Ratings said it revised the outlook on Autostrada Brescia Verona Vicenza Padova's €600 million senior secured bond to stable from negative and affirmed the rating at BB+.

Fitch said the outlook revision reflects its view that regulatory risk has receded. The Italian government's interministerial committee for economic planning (CIPE) on Aug. 10, 2016 formally backed the approval of a level of weighted average cost of capital (WACC) to be included in the company's regulatory business plan with a view to support the concession's large investment plan.

The Italian Ministry of Infrastructure (grantor) has to yet formally approve the business plan but the agency said its sensitivities show that the current rating can sustain a slightly lower WACC than it expects.

© 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.