Italgas: Moody’s Ratings (Moody’s) affirms rating and outlook

Milan, October 10, 2024 – The rating agency Moody’s affirmed today Italgas S.p.A’s Long-term Issuer rating at ‘Baa2’, Stable Outlook.

The rating affirmation follows Italgas' announcement on the agreement reached for the acquisition of 2i Rete Gas S.p.A., highlighting that, following the transaction, Italgas will continue to be supported by the low business risk profile of its activities, underpinned by the high share of revenues generated under the Italian regulatory framework, assessed as stable and predictable.

Furthermore, rating affirmation takes into consideration Italgas’ efficiencies in operating spending, low average cost of debt and limited exposure to volume risk.

Moody’s highlights that Italgas’ rating remains constrained by the company’s exposure to the country risks associated with Italy (Baa3 stable).