ROME, July 17 (Reuters) - Italian tollroad operator Atlantia will suffer no damage to its ability to finance operations and investment as a result of Moody’s downgrade of its credit rating, Chief Executive Giovanni Castellucci said on Tuesday.
“The current market situation, particularly for Atlantia, is not a reason for concern. Our financing capacity is still intact and anyway we have sufficient resources to finance our investment plan for well over two years,” Castellucci told reporters at the margins of a conference in Rome.
The comment came after Moody’s cut Atlantia’s credit rating to Baa1 from A3 following its downgrading of Italy’s sovereign debt rating last week.
He said traffic levels were still negative and he expected no substantial improvement in the near term. (Reporting by Stefano Bernabei)