Terna — Regulatory Filings 2022

Mar 25, 2022

S&P AND SCOPE CONFIRM TERNA'S RATINGS: BBB+, POSITIVE OUTLOOK AND A-, STABLE OUTLOOK, RESPECTIVELY

The rating Agencies have acknowledged the stability of the updated 2021-2025 Industrial Plan and the Company's central role as driver and enabler of the energy transition

Rome, 25 March 2022 – Today, S&P Global Rating (S&P) confirmed the long-term rating held by Terna S.p.A. (Terna) at BBB+, a notch above the rating held by the Italian Republic, with a positive outlook. At the same time S&P also confirmed the stand-alone credit profile (SACP) at A-.

Similarly, Scope Ratings (Scope) confirmed the long-term rating and the rating of the unsecured senior debt of Terna at A-, a notch above the rating held by the Italian Republic, with a stable outlook. At the same time Scope also confirmed the short-term rating at S-1 and the subordinated debt rating (hybrid) at BBB.

The assessment by the Agencies came after the presentation of the update of the 2021-2025 Industrial Plan, which aims to strengthen Terna's central role as driver of the energy transition and enabler of an increasingly complex, sustainable and innovative electricity system through strong acceleration of investments which, over the period of the Plan, will amount to a total of €10 billion.