On Dec. 4, 2008, Standard&Poor's Ratings Services revised its outlook on Italy-based toll road operator Autostrade per I'Italia SpA (ASPI) and its 100% owner Atlantia SpA to negative from stable, reflecting our concerns over a gradual financial profile weakening following the announcement that Atlantia intends to acquire several assets in South America and Portugal, combined with a deteriorating operating performance and our perception of resumed regulatory uncertainty. At the same time, Standard&Poor's affirmed its 'A/A-1' long- and short-term corporate credit ratings on Atlantia and ASPI. Atlantia announced on Dec. 1, 2008, an agreement to acquire several assets from Itinere (not rated), the concession arm of Spain-based construction, energy, and concession group Sacyr Vallehermoso, S.A (Sacyr, not
