On Oct. 22, 2021, we revised our outlook on Italy to positive from stable and affirmed our 'BBB/A-2' ratings. We equalize our long-term rating on Acquirente Unico SpA with that on Italy, since we see an almost certain likelihood of the company receiving timely and sufficient extraordinary government support in case of financial distress. Consequently, we are revising our outlook on Acquirente Unico to positive from stable and affirming our 'BBB' long-term issuer credit rating. The positive outlook mirrors that on Italy. On Oct. 26, 2021, S&P Global Ratings revised its outlook on Acquirente Unico SpA to positive from stable and affirmed the 'BBB' long-term issuer credit rating. The outlook revision stems from our rating action on Italy on Oct.
