Outlooks On Ferrovie dello Stato Italiane And Autostrade per l'Italia Revised To Stable After Similar Action On Italy

On July 26, 2022, we revised our outlook on Italy to stable from positive. We consider integrated rail group Ferrovie dello Stato Italiane (FSI) and toll road operator Autostrade per l'Italia SpA (ASPI) to be government-related entities, because FSI is fully owned by the Italian Ministry of Economy and Finance and ASPI is 45% owned by state-owned Cassa Depositi e Prestiti. Exposure to Italy is a key credit driver for our ratings on FSI and ASPI, because FSI relies on public grants to finance most of its network investments and receives ongoing public revenues to support passenger services, and ASPI operates a strategic national asset and its heavy investments are a priority to the government. We revised our outlooks on

...- On July 26, 2022, we revised our outlook on Italy to stable from positive. - We consider integrated rail group Ferrovie dello Stato Italiane (FSI) and toll road operator Autostrade per l'Italia SpA (ASPI) to be government-related entities, because FSI is fully owned by the Italian Ministry of Economy and Finance and ASPI is 45% owned by state-owned Cassa Depositi e Prestiti. - Exposure to Italy is a key credit driver for our ratings on FSI and ASPI, because FSI relies on public grants to finance most of its network investments and receives ongoing public revenues to support passenger services, and ASPI operates a strategic national asset and its heavy investments are a priority to the government. - We revised our outlooks on FSI and ASPI to stable from positive and affirmed the '###' rating on FSI and the '###-/A-3' ratings on ASPI - The stable outlooks mirror the outlook on Italy. MILAN (S&P Global Ratings) Aug. 2, 2022--S&P Global Ratings today revised to stable from positive its outlooks...

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