...LONDON (S&P Global Ratings) Aug. 20, 2018--S&P Global Ratings said today that its ratings and outlook on Salini Impregilo SpA (##/Stable/--) are unchanged following the group's announcement that it has agreed to sell Lane Construction's Plants and Paving division. On Aug. 20, 2018, Salini Impregilo announced that it signed a contract for the sale of its subsidiary Lane Construction's Plants and Paving division to Eurovia SAS, which belongs to the Vinci Group, for $555 million cash. The closing and payment are expected in the fourth quarter of 2018. We will monitor how Salini Impregilo will use the proceeds from this sale and what effect it will have on its credit metrics. While this may allow the group to reduce gross debt--as per its guidance for 2018--we understand that Salini Impregilo also intends to further expand in the U.S. For our recent credit analysis see "Construction Company Salini Impregilo Ratings Lowered To '##' On Weaker Leverage Metrics; Outlook Stable," published May 8,...
