|Bid||0.5875 x 0|
|Ask||0.5960 x 0|
|Day's Range||0.5850 - 0.6000|
|52 Week Range||0.4700 - 0.8560|
|Beta (5Y Monthly)||1.60|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.20 (8.49%)|
|1y Target Est||1.43|
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Astaldi S.p.A. Frankfurt am Main, September 25, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Astaldi S.p.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
BNP Paribas on Wednesday denied having sued Astaldi, adding that it was the Italian builder that had launched legal action against the French lender on March 13. The bank said it and other lenders were sued by Astaldi over the payment of an international guarantee issued by BNP Paribas at the request of the Italian group in favour of National Bank of Canada. The legal move was "totally groundless", BNP added.
New Italian bank Illimity is interested in troubled construction group Condotte, Chief Executive Corrado Passera said on Tuesday. Condotte, Italy's third-largest construction group, was placed under extraordinary administration last year as it risked buckling under more than 800 million euros in debt. The European Commission gave a green light last month to a 190 million euro (165 million pounds) state guarantee to meet urgent liquidity needs at the building group.
Moody's Investors Service ("Moody's") has today downgraded to Ca-PD/LD from Caa2-PD the probability of default rating (PDR) of Italian construction company Astaldi S.p.A. ("Astaldi" or "group") after the group has missed to pay the interest on its EUR750 million senior unsecured notes. Concurrently, Moody's downgraded to Ca from Caa2 the group's corporate family rating (CFR), assuming a 35%-65% recovery rate, and to Ca from Caa2 the instrument rating on the EUR750 million senior unsecured notes due 2020. The limited default "LD" designation attached to Astaldi's PDR reflects that the missed interest payment constitutes a default under Moody's definition.