Fitch: Autostrada Brescia bond view to negative

Fitch Ratings said it revised the outlook on Autostrada Brescia Verona Vicenza Padova's €600 million senior secured bond to negative from stable and affirmed its rating at BB+.

Fitch said the negative outlook reflects regulatory uncertainty following delays to the approval of Autostrada Brescia’s regulated business plan, which is holding up tariff increase. At the same time there remains no visibility on the final weighted average cost of capital (WACC) for the current regulatory period.

This is caused by a standstill in the approval of Valdastico Nord, a greenfield project covering the northeast of Italy in Autostrada Brescia’s network, the agency said.

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