December 3, 2019 / 6:24 PM / 12 days ago

Moody's cuts Atlantia's rating to junk

MILAN, Dec 3 (Reuters) - Credit rating agency Moody’s downgraded Italian infrastructure group Atlantia to Ba1 from Baa3, pushing it into non-investment grade territory.

Moody’s also cut the rating on Atlantia’s motorway unit Autostrade per l’Italia (ASPI) to Baa3 from Baa2, while it confirmed Atlantia’s airport operator Aeroporti di Roma at Baa2.

The outlook on all the ratings is negative, the credit rating agency said in a statement on Tuesday.

“The downgrade of Atlantia’s and ASPI’s rating follows last’s week temporary closure of some bridges managed by Autostrade over safety concerns,” the rating agency said. (Reporting by Francesca Landini Editing by Chris Reese)

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