Moody’s changes Milione view to positive

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

“The change in the outlook to positive recognizes Milione´s improving performance and the potential for the group´s credit metrics to strengthen to the levels commensurate with a Baa3 rating. Such an improvement in financial metrics may also create further headroom against the financial covenants in Milione's debt documentation, which would create greater financial stability and which would be in line with what one would expect for an investment-grade credit rating,” Moody’s said in a press release.

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