Fitch removes IDG from watch

Fitch Ratings said it affirmed IGD SIIQ S.p.A.'s long-term issuer default rating and senior unsecured ratings at BBB- and removed them from rating watch negative. The outlook is stable.

The agency placed IGD on RWN in September given the approaching maturity of the €400 million bond, which elevated the company’s liquidity risk.

“The rating actions reflect the successful completion of IGD's refinancing of its €400 million unsecured bond due Nov. 28, 2024. The company offered the holders of the €400 million bond an exchange of their debt with newly issued notes maturing in 2027 and a small cash component,” Fitch said in a press release.

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