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European rating agency. Objective, transparent, independent.

Abertis Infraestructuras, S.A. (Konzern)

Rating History

Rating Watch Outlook Decision Date Action Validity Date Maximum Validity
BBB Outlook NEG 07.04.2020 14.04.2020
BBB Watch UNW 26.09.2019 09.10.2019
BBB+ Watch UNW 21.08.2018 23.08.2018
BBB+ Outlook NEG 15.05.2018 11.06.2018
BBB+ Outlook STA 14.06.2017 23.06.2017

News

  • 14.04.2020
    Creditreform Rating AG confirmed the rating result of BBB for the unsolicited corporate issuer rating of Abertis Infraestructuras S.A. The supplement watch UNW was withdrawn and the outlook was set to negative. The watch UNW was withdrawn following the assessment of the financial key figures of the financial year 2019, which have shown that the debt take-over from Abertis Holdco and the merger with Abertis Participaciones S.A. did not have a further negative impact on the Group´s financials. Subsequently, the outlook was set to negative as we expect a deterioration in earnings following the decrease in average daily traffic in Abertis‘ key markets due to the overall economic slowdown resulting from COVID-19 pandemic.
  • 09.10.2019
    Creditreform Rating AG downgraded the corporate issuer rating of Abertis Infraestructuras S.A. from BBB+ to BBB. The WATCH UNW remains in place. The downgrade is mainly the result of the deteriorated financial structure of the Group that followed after the assumption of the debt of Abertis Holdco and simultaenously issued a non-cash, extraordinary dividend to Abertis Holdco. Additionally, the Group's new shareholders implemented an aggressive dividend policy limiting the ability of the Group to deleverage. The WATCH UNW remains in place because the exact impact on the financials of Abertis can first be determined after publication of its official audited figures.
  • 23.08.2018
    Creditreform Rating AG has set the rating of Abertis Infraestructuras, S.A. to BBB+ "watch uncertain". The collapse on August 14, 2018 of the motorway bridge in Genoa, which is operated by motorway operator Atlantia, S.p.A., could significantly affect the acquisition of Abertis Infraestructuras, S.A. by Hochtief-ACS and Atlantia, S.p.A. The implications of this event on the creditworthiness of the company is thus currently uncertain. For this reason, the corporate issuer rating of Abertis Infraestructuras, S.A. will be set on "watch uncertain" until further notice.
  • 11.06.2018
    Creditreform has adjusted the current unsolicited corporate rating of Abertis Infraestructuras, S.A. from BBB+ with stable outlook to BBB+ with negative outlook. The main reason behind this decision is the takeover of the share capital of Abertis Infraestructuras, S.A. by HOCHTIEF AG, which has been accepted by the shareholders and the Spanish authorities. The majority of the share capital (50% plus 1 share) will be in turn taken over by Atlantia, S.p.A. As a result the Abertis group will be consolidated by Atlantia, S.p.A. which will have an influence on the rating of Abertis Infraestructuras, S.A. The current corporate rating of Atlantia, S.p.A. has been adjusted by Creditreform Rating from BBB with stable outlook to BBB with negative outlook on 15 May 2018.
  • 23.06.2017
    Creditreform Rating has carried out an unsolicited corporate rating of Abertis Infraestructuras, S.A.