...+ Atlantia recently drew down 3.9 billion under its equity funding facilities to pay the equity stake in Spain-based toll road operator Abertis and for a stake in the capital increase in Hochtief, together with available cash. We believe Atlantia continues to have a strong strategic interest in completing the Abertis acquisition because it is a core component of its geographic diversification strategy. + While the cause of the Genoa bridge collapse remains unknown, we are monitoring the potential regulatory, operational, and financial ramifications for Atlantia. We do not see termination of the concession agreement as likely over the short to medium term. Furthermore, if it were terminated, we believe the negative impact could be mitigated by the contractually stipulated compensation for early termination. Nevertheless, there is also potential for drawn-out legal proceedings or a toughening of concession terms on new investments. + We are maintaining our '###+' ratings on Atlantia, its...
