Moody’s ups Aeroporti di Roma, notes

Moody's Investors Service said it upgraded the senior unsecured rating of Aeroporti di Roma SpA to Baa2 from Baa3.

Concurrently, the agency upgraded the rating on the €1.5 billion medium-term note to provisional Baa2 from provisional Baa3 program and the senior secured rating of Romulus Finance srl to Baa1 from Baa2.

The outlooks are positive.

Moody’s said the action recognizes Aeroporti di Roma’s strong financial performance underpinned by traffic growth of 5.9% in the first 10 months of 2014, primarily driven by an increase in airline capacity, and by tariff increases provided for under the new regulatory framework approved at end-2012.

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