Fitch: Salini Impregilo view to positive

Fitch Ratings said it revised Salini Impregilo SpA's outlook to positive from stable and affirmed the long-term issuer default rating and senior unsecured rating at BB.

Fitch said the positive outlook reflects the improved business profile of Salini, as well as its increased scale, diversification and better access to the U.S., a favorable market with a ramp-up pipeline of transport infrastructure investments.

Leverage is still above the agency’s positive rating sensitivities guidance as a result of the acquisition of U.S. construction company Lane Construction Corp., but Fitch expects steady deleveraging over the next 24 months.

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