\version "2.10.14" % on debian sarge 3.1

\layout { ragged-right = ##t }

aa = #(make-dynamic-script (markup #:line(#:normal-text #:italic "aa")))

\relative c''{
  \override Score.SeparationItem #'padding = #7

  \setTextCresc
  \set crescendoText = \markup { \italic \raise #-.5 "p" \hspace #1.5 }
  c4 \< c \! c-\aa
}