(Alliance News) - Terna Spa has announced that Moody's agency has confirmed the company's rating at 'Baa2,' one notch above that of the Republic of Italy, with a stable outlook.

The company announced that its short-term rating at 'P-2' and subordinated debt rating at 'Ba1' were also confirmed.

In addition, CDP Reti Spa reported that Moody's rating agency confirmed the company's long-term rating at 'Baa3', keeping the outlook unchanged at stable.

Rating and outlook are in line with those of the parent company, Cassa Depositi e Prestiti Spa.

As a reminder, CDP Reti is an investment vehicle 59.1 percent owned by Cassa Depositi e Prestiti, 35 percent by State Grid Europe Limited, State Grid Corporation of China group, and 5.9 percent by a group of Italian institutional investors.

CDP Reti's mission is to manage holdings in Snam at 31.35% as of June 30, 2023, Terna at 29.85% as of June 30, and Italgas at 25.99% as of June 30, 2023.

On Tuesday, Terna closed 0.7 percent in the red at EUR7.58 per share.

By Claudia Cavaliere, Alliance News reporter

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