Moody’s affirms ratings for Cdp Reti at Baa3, revises outlook to negative from stable

Rome, 13 December 2016 h. 10:22 – Cdp Reti Spa (Cdp Group) announces that the rating agency Moody’s affirmed the long-term rating and the senior unsecured rating for Cdp Reti at Baa3 and revised the outlook to negative from stable.

The decision follows the outlook change to negative from stable made by the agency for the ratings regarding the Republic of Italy on 7 December 2016.

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 (28.98%), ITALGAS Spa (25.08%) and TERNA Spa (29.85%).