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.


  • Last update: 29 Oct. 2018
  • Long term: Baa2
  • Short term: P2
  • Outlook: Stable

Standard & Poor's

  • Last update: 27 Nov. 2018
  • Long term: BBB+
  • Short term: A-2
  • Outlook: Negative


  • Last update: 12 Dec. 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+ Rating affirmation
30/10/2017   BBB+   Upgrade to BBB+ following Sovereign upgrade
08/11/2017   BBB+   Rating affirmation
11/06/2018 Baa1     Rating affirmation
04/09/2018     BBB+ Rating affirmation
23/10/2018 Baa2     Lowered to Baa2 on Sovereign rating downgrade
29/10/2018   BBB+  

Rating affirmed with negative Outlook, following same action on Sovereign rating

29/10/2018 Baa2    

Last rating affirmation

27/11/2018   BBB+   Last rating affirmation
12/12/2018     BBB+ Last rating affirmation

Download the pdf file with the credit rating history.

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20 December 2018 - 10:03 CET