Moody's withdraws its ratings on Astaldi for business reasons
Rating Action: Moody's withdraws its ratings on Astaldi for business reasons. Global Credit Research- 09 Jan 2020. Frankfurt am Main, January 09, 2020-- Moody's Investors Service has today withdrawn its ratings on Italian construction company Astaldi S.p.A., including the Ca corporate family rating, the Ca-PD/LD probability of default rating and the Ca instrument ratings on the EUR750 million senior unsecured notes due December 2020, as well as the negative outlook.Astaldi is an infrastructure construction group based in Italy. Co. is engaged in the development of works in the field of infrastructure and civil engineering. Co.'s activities include the construction of railway, road and air transport infrastructures, energy production plants and civil and industrial construction, as well as management of transport infrastructures, car parks, hospitals and renewable energy facilities. Co. manages and coordinates resources using the “turnkey” formula, from design through to organizing funding and constructing and managing projects. Co. operates throughout the whole of Italy and Eastern Europe, South America, the United States, Africa and the Middle East.
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