Fitch affirms ratings for CDP RETI and revises Outlook to negative

Rome, 11 September 2018 h. 18:10 – CDP RETI announces that today the rating agency Fitch has affirmed CDP RETI’s long-term rating at BBB and revised the Outlook to negative from stable.

The decision follows the similar action recently taken by the agency on the parent Cassa depositi e prestiti Spa, which, in turn, reflects the change in Outlook on the Republic of Italy’s ratings.

CDP RETI Spa is an investment vehicle owned by Cassa depositi e prestiti Spa (59.1%), State Grid Europe Limited, a member of State Grid Corporation of China Group (35%), and a group of Italian institutional investors (5.9%). CDP RETI’s mission is to manage the investments in SNAM Spa (30.37%), TERNA Spa (29.85%) and ITALGAS Spa (26.04%).