Fitch Affirms ASAM at 'BBB'; Removes Rating Watch Negative

April 16, 2015 1:29 PM

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(The following statement was released by the rating agency) MILAN/FRANKFURT/LONDON, April 16 (Fitch) Fitch Ratings has affirmed Italian Azienda Sviluppo Ambiente e Mobilita's (ASAM) Long-term foreign and local currency Issuer Default Ratings (IDR) at 'BBB' and Short-term foreign currency IDR at 'F3'.

The agency has removed all ratings from Rating Watch Negative (RWN) and assigned Stable Outlooks to the Long-term IDRs. KEY RATING DRIVERS Fitch's rating action reflects our opinion that its sponsors, Finlombarda and its ultimate owner, the Region of Lombardy, exercise extensive control over the sub...

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