Milione has been assigned a BBB- rating from Fitch Rating. The company is the main shareholder of airport manager SAVE.
The company's outlook is stable.
The rating reflects Milione's “network dominant position in a wealthy and relatively large catchment area” in the north of Italy. The company's Italian network is the third-largest in the company.
Fitch noted that its network's traffic has shown resilience during economic challenges.
“Milione's Italian airports benefit from a supportive regulatory framework providing protection in case of volume underperformance, while Brussels South Charleroi Airport (BSCA) benefits from a light touch regulation with charges updated annually for inflation after a consultation process,” said Fitch.
The airports' cost efficient model allows for “flexible and modular capex”.