Rating

Rating

The credit ratings of Autostrade per l'Italia are as follows

    Issuer   EMTN Programme (€7miliardi)(*)
Agency   Rating Outlook   Rating Outlook
 Standard & Poor's   BB- CreditWatch Negative   BB- CreditWatch Negative
 Moody's   Ba1 Review for downgrade   Ba1 Review for downgrade
 Fitch Ratings   BB+ Rating Watch Negative   BB+ Rating Watch Negative


(*) Since December 2016 Autostrade per l'Italia has substitued Atlantia as the issuer of the bonds originally issued between 2004 and 2014 under the former Atlantia's EMTN Programme of Atlantia. These notes have the same ratings of Autostrade per l'Italia's €7bn EMTN Programme.