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Snam — Capital/Financing Update 2018
Oct 29, 2018
4042_rns_2018-10-29_4360f3d9-3a8f-499c-a023-e5f698210a3c.pdf
Capital/Financing Update
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| Informazione Regolamentata n. 0542-131-2018 |
Data/Ora Ricezione 29 Ottobre 2018 19:18:17 |
MTA | |
|---|---|---|---|
| Societa' | : | SNAM SPA | |
| Identificativo Informazione Regolamentata |
: | 109991 | |
| Nome utilizzatore | : | SNAMN04 - Palladino | |
| Tipologia | : | 2.2 | |
| Data/Ora Ricezione | : | 29 Ottobre 2018 19:18:17 | |
| Data/Ora Inizio Diffusione presunta |
: | 29 Ottobre 2018 19:18:19 | |
| Oggetto | : | Snam: S&P affirms BBB+ rating, revises outlook from stable to negative |
|
| Testo del comunicato |
Vedi allegato.
Snam: S&P affirms BBB+ rating, revises outlook from stable to negative
San Donato Milanese, 29 October 2018 – Snam informs that S&P has today affirmed the Company's BBB+ long-term corporate credit rating.
The outlook on the rating has been revised from stable to negative, as a consequence of the correspondent action on the outlook of the Italian Government's sovereign rating (BBB with the outlook revised from stable to negative) announced on the 26th October. The short-term rating is affirmed at 'A-2'.
The rating agency continues to assess Snam's Stand Alone credit profile (SACP) at "a-".
That valuation reflects the Company's strong and recognized leadership position as Italy's leading natural gas transmission, storage and regasification operator, as well as the stable and predictable cash flow generation from regulated gas operations in Italy.
Moreover, S&P forecasts that Snam will be able to keep adjusted Funds from Operation to debt (FFO/Net Debt) sustainably above 12% over the next two years, which marks the threshold for maintaining an "a-" SACP.