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Credit Rating

The Snam Group has access to capital markets in order to meet its short and long term financial needs through different sources of funding with the goal to maintain a solid and efficient capital structure.

Moody's

  • Last update: 23 Oct. 2018
  • Long term: Baa2
  • Short term: not assigned
  • Outlook: Stable

Standard & Poor's

  • Last update: 29 Oct. 2018
  • Long term: BBB+
  • Short term: A-2
  • Outlook: Negative

Fitch

  • Last update: 4 Sept. 2018
  • Long term: BBB+
  • Short term: F2
  • Outlook: Stable

Bond's rating is the same of the issuer's one (Moody's: Baa2 - Standard&Poor's: BBB+ - Fitch: BBB+).

Snam didn't have a credit rating until 2012, since financed through the former controlling company ENI.

 

Credit rating history

  Moody's S&P Fitch note

12/06/2012   A-   First-time rating
13/06/2012 Baa1     First-time rating
11/07/2013   BBB+   Lowered to BBB+ on Sovereign downgrade
09/12/2014   BBB   Lowered to BBB on Sovereign downgrade
23/07/2015     BBB+ First-time rating
12/10/2017     BBB+ Last rating affirmation, ratings affirmed @ BBB+ each year
30/10/2017   BBB+   Upgrade to BBB+ following Sovereign upgrade
08/11/2017   BBB+   Last rating affirmation
11/06/2018 Baa1     Last rating affirmation, ratings affirmed @ Baa1 each year
23/10/2018 Baa2     Lowered to Baa2 on Sovereign rating downgrade
29/10/2018   BBB+   Last rating affirmation with negative Outlook, following same action on Sovereign rating
 
 

Download the pdf file with the credit rating history.

 
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updated
30 October 2018 - 15:08 CET