Creditreform Rating has affirmed the unsolicited corporate issuer rating of Terna Rete Elettrica Nazionale S.p.A. (Terna) at BBB. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Terna at BBB. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings remains stable. For more details regarding the ratings, please refer to our update report below.
Creditreform Rating has affirmed the unsolicited Corporate Issuer Rating of Terna Rete Elletrica Nazionale S.p.A. (Terna) at BBB with stable outlook. This decision is based on Terna´s stable operating performance during 2021 and our expectation that credit metrics will be sustained at healthy levels in the next 12-24 months. In addition, this is also based on Terna´s very low risk business model and predictable cash flow generation, given that around 85% of total revenues come from regulated activities. We also factor in the ratings its solid financial position as well as its leading position in Europe and the key position of the Company in the Italian market.
Creditreform Rating has confirmed the unsolicited Corporate Issuer Rating of Terna Rete Elletrica Nazionale S.p.A. (Terna) at BBB with stable outlook. This decision is based particularly on the current positive trend in Terna´s operational performance despite the COVID-19 pandemic. In addition, this is also based on the existence of further growth prospects, the stable regulatory framework, the key position of the Company in the Italian market, its consistently improving performance, as well as its comfortable liquidity position in connection with a proven access to financial markets.
Creditreform Rating has carried out an unsolicited rating of Terna Rete Elettrica Nazionale S.p.A. The rating has been set to BBB with stable outlook.