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: 9 August 2022
Long term: Baa2
Short term: P-2
Outlook: Negative

Standard & Poor's

Last update: 29 July 2022
Long term: BBB+
Short term: A-2
Outlook: Stable

Fitch

Last update: 11 February 2022
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
30/10/2017		BBB+		Upgrade to BBB+ following Sovereign upgrade
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
27/10/2020		BBB+		Rating affirmed and revised the outlook from negative to stable
19/10/2021		BBB+		Rating affirmed and revised the outlook from stable to positive
11/02/2022			BBB+	Last rating affirmation
29/07/2022		BBB+		Rating affirmed with stable Outlook, following same action on Sovereign rating
09/08/2022	Baa2			Rating affirmed with negative Outlook, following same action on Sovereign rating

Download the pdf file with the credit rating history.

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