MILAN (Reuters) - The cost of insuring exposure to Atlantia debt (ATL.MI) rose on Tuesday after S&P cut its rating of the Italian infrastructure company to junk, citing increasing risks the group could lose its motorway license
Atlantia five-year credit default swaps (CDS) jumped 13 basis points (bps) from Monday’s close to 245 bps, according to data from IHS Markit. AUTS5YEUAM=MG
Controlled by Italy’s Benetton family, Atlantia has been in the crosshairs since a concrete bridge operated by its Autostrade per l’Italia motorway unit collapsed in the city of Genoa in August 2018, killing 43 people.
Reporting by Elvira Pollina