Research Update: Salini Impregilo 'BB' Ratings Placed On CreditWatch Negative Following Adverse Arbitration Tribunal Decision - S&P Global Ratings’ Credit Research

Research Update: Salini Impregilo 'BB' Ratings Placed On CreditWatch Negative Following Adverse Arbitration Tribunal Decision

Research Update: Salini Impregilo 'BB' Ratings Placed On CreditWatch Negative Following Adverse Arbitration Tribunal Decision - S&P Global Ratings’ Credit Research
Research Update: Salini Impregilo 'BB' Ratings Placed On CreditWatch Negative Following Adverse Arbitration Tribunal Decision
Published Dec 17, 2018
6 pages (2115 words) — Published Dec 17, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Dec. 13, 2018 the International Chamber of Commerce ordered construction consortium GUPC to pay back $836 million to the Panama Canal Authority, with Salini Impregilo's pro-quota share totaling about $334 million. This, combined with Salini Impregilo's potential integration of Astaldi, could impede the company's ability to reduce gross debt over 2018-2019, and negatively affect its credit metrics and liquidity. We are therefore putting our 'BB' ratings on Salini Impregilo on CreditWatch with negative implications. We aim to resolve the CreditWatch once we have clarity regarding the company's cash out related to the advances, the potential acquisition of Astaldi, and on resulting financial leverage metrics. On Dec. 17, 2018, S&P Global Ratings placed on CreditWatch with negative implications its 'BB'

  
Brief Excerpt:

...+ On Dec. 13, 2018 the International Chamber of Commerce ordered construction consortium GUPC to pay back $836 million to the Panama Canal Authority, with Salini Impregilo's pro-quota share totaling about $334 million. + This, combined with Salini Impregilo's potential integration of Astaldi, could impede the company's ability to reduce gross debt over 2018-2019, and negatively affect its credit metrics and liquidity. + We are therefore putting our '##' ratings on Salini Impregilo on CreditWatch with negative implications. + We aim to resolve the CreditWatch once we have clarity regarding the company's cash out related to the advances, the potential acquisition of Astaldi, and on resulting financial leverage metrics....

  
Report Type:

Research Update

Issuer
Webuild S.p.A.
GICS
Construction & Engineering (20103010)
Sector
Global Issuers
Country
Italy
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Salini Impregilo 'BB' Ratings Placed On CreditWatch Negative Following Adverse Arbitration Tribunal Decision" Dec 17, 2018. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Salini-Impregilo-BB-Ratings-Placed-On-CreditWatch-Negative-Following-Adverse-Arbitration-Tribunal-Decision-2145265>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Salini Impregilo 'BB' Ratings Placed On CreditWatch Negative Following Adverse Arbitration Tribunal Decision Dec 17, 2018. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Salini-Impregilo-BB-Ratings-Placed-On-CreditWatch-Negative-Following-Adverse-Arbitration-Tribunal-Decision-2145265>
  
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