Moody’s affirms SIAS

Moody’s Investors Service said it affirmed the Baa2 senior secured rating of SIAS – Societa Iniziative Autostradali e Servizi SpA.

The outlook remains stable.

The agency said the affirmation follows the announcement on June 13 that SIAS and its holding company ASTM SpA will merge, creating a group mostly active in the toll roads, construction and engineering segments.

“Whilst, following the transaction, SIAS will increase its exposure to higher risk activities currently at the ASTM level, compared to its motorway operations, the contribution from the construction and engineering segments will remain relatively small in the context of the overall group,” the agency said in a news release.

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