Rating

Rating

The credit ratings of Autostrade per l'Italia and its bond issues are as follows

    Issuer   EMTN Programme (€7miliardi)(*)
Listing Particulars
Agency   Rating Outlook   Rating Outlook
 Standard & Poor's   BB Positive outlook   BB Positive outlook
 Moody's     -               -   Ba3 Outlook Positive
 Fitch Ratings   BB+ Rating Watch Positive   BB+ Rating Watch Positive


(*) 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.