(Finance) – The rating agency Moody’s confirmed today the long-term creditworthiness of Italgas to “Baa2”, Outlook Stable.
The Baa2 rating is supported by the Group’s focus on low-risk gas distribution activities that generate revenue within a consolidated and favorable regulatory framework, with limited exposure to volume risk.
The rating also reflects good operational efficiency, solid cash flow, supported by operating cost efficiency and the low average cost of debt.
Finally, Moody’s underlines that the rating remains linked to the macroeconomic, political and regulatory risk of the Italian State (Baa3 stable).