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   BBB+ Negative watch   BBB+ Negative watch
 Moody's   Baa2 Under review   (P)Baa2 Under review
 Fitch Ratings   BBB+ Negative watch   A- Negative watch


(*) 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.