September 20, 2019 / 4:25 PM / 2 months ago

S&P downgrades Italy's Atlantia as road security probe escalates

MILAN, Sept 20 (Reuters) - Credit rating agency S&P downgraded Italian infrastructure group Atlantia on Friday, citing increased legal and regulatory risks following an escalation in a probe over falsified road security reports.

The agency lowered the long-term rating of Atlantia and its motorway unit Autostrade per l’Italia to ‘BBB-‘ from ‘BBB’, with a negative outlook. S&P also cut the rating on Atlantia’s airport unit Aeroporti di Roma to ‘BBB’ from ‘BBB+’.

The rating agency said it still did not assume the revocation of the Italian toll road concession operated by Autostrade per l’Italia. (Reporting by Francesca Landini)

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