Most likely this is a Bonfiglioli (assuming so, because you said Italy) IEC motor that was originally DESIGNED to be used at 400V 50Hz when connected in Wye, then 230V 50Hz when connected in Delta. When connected in Wye, the V/Hz ratio of the motor is 8:1 (400/50). If you apply 480V 60Hz to is, the V/Hz ratio is still 8:1, so the motor will put out rated torque all day, every day, no problem. It will of course turn 20% faster.
But when Bonfiglioli gets the motor listed and labeled in North America, they sell it as a 480V rated motor. Then, BECAUSE people here might THINK it can also be connected to 230V, they explicitly make the nameplate say "277V" if connected in Delta, that way they will think twice about connecting it to 240V 60Hz, which would make it burn up.
So technically the motor is rated 480Y, 277V Delta, but not because anyone can USE it at 277V 3 phase since that doesn't exist. It just says that so that you know you CANNOT use it at anything but 480V when connected to a 60Hz system.