Italian Construction Company Salini Impregilo Affirmed At 'BB+' On Plan To Acquire Lane Industries; Outlook Stable

Salini Impregilo intends to acquire U.S.-based Lane Industries for about $370 million, using cash and the proceeds of new debt. We believe the acquisition would significantly strengthen Salini Impregilo's presence in the U.S. infrastructure market and reduce its overall country risk. We expect that Salini Impregilo's leverage metrics will weaken temporarily after the acquisition, but remain commensurate with the rating. We are affirming our 'BB+' rating on Salini Impregilo. The stable outlook reflects our view that Salini Impregilo's Standard&Poor's-adjusted leverage metrics will remain in the intermediate category and start recovering as of 2017. MILAN (Standard&Poor's) Nov. 18, 2015--Standard&Poor's Ratings Services said today that it had affirmed its 'BB+' long-term corporate credit rating on Italy-based

...+ Salini Impregilo intends to acquire U.S.-based Lane Industries for about $370 million, using cash and the proceeds of new debt. + We believe the acquisition would significantly strengthen Salini Impregilo's presence in the U.S. infrastructure market and reduce its overall country risk. + We expect that Salini Impregilo's leverage metrics will weaken temporarily after the acquisition, but remain commensurate with the rating. + We are affirming our '##+' rating on Salini Impregilo. + The stable outlook reflects our view that Salini Impregilo's Standard & Poor's-adjusted leverage metrics will remain in the intermediate category and start recovering as of 2017. MILAN (Standard & Poor's) Nov. 18, 2015--Standard & Poor's Ratings Services said today that it had affirmed its '##+' long-term corporate credit rating on Italy-based construction company Salini Impregilo SpA. The outlook is stable. At the same time, we affirmed our '##+' issue rating on Salini Impregilo's 400 million senior unsecured...

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