Moody's moves Milione outlook to stable

Moody's Investors Service said it changed Milione SpA’s outlook to stable from negative. Concurrently, the agency affirmed the Ba1 corporate family rating, the Ba1 senior secured rating on the €300 million bond and the Ba2-PD probability of default rating.

“Today's rating action reflects Moody's expectation that the continued recovery in traffic will allow Milione to improve its operating and financial performance with credit metrics trending towards levels commensurate with the current Ba1 ratings, namely a funds from operations (FFO)/debt ratio above 6% and a debt service coverage ratio (DSCR) above 1.4x,” the agency said in a press release.

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