4 September 2018 - 16:03
S&P DOWNGRADES ASTALDI’S RATING
Astaldi S.p.A. announces that on September 3, S&P Global Ratings lowered its long-term issuer credit rating on to ‘CCC-‘ (with outlook ‘developing’) from ‘CCC’ (with outlook ‘developing’). S&P’s decision follows the deterioration of the economic situation in Turkey which could affect Astalid’s ability to sell its stake in the Third Bosphorus Bridge’s concession asset, and therefore impact the planned capital increase.
The developing outlook reflects S&P’s view that the agency might raise or lower the Company’s rating in the next few quarters, depending on the advancement of the disposal of the concession asset and the capital increase.
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