Research Update: S&PCORRECT: Italian Oil And Gas Major Eni 'A+/A-1' Ratings Affirmed; Outlook Stable Despite Libyan Exposure Jul 11
- ID: 1871405
- July 2011
- Region: Italy, Libya
- Standard & Poors
Italy-based international oil and gas major Eni SpA has currently lost 12.5% of its production because of the continuing Libyan conflict. However, we see Eni's strengthening cash flow generation and credit metrics as important mitigants. We are therefore affirming our long- and short-term corporate credit ratings on Eni at 'A+/A-1'. The stable outlook reflects that a permanent loss of Libyan oil and gas reserves is not our current base case, and our view that Eni's improving financial profile could offset any such potential loss. On July 1, 2011, Standard & Poor's Ratings Services affirmed its 'A+' long-term and 'A-1' short-term corporate credit ratings on Italy-based international oil and gas major Eni SpA. The outlook is stable. The affirmation reflects our...
Companies mentioned in this report are:
- Eni SpA
- Eni Lasmo PLC
- Eni U.S. Inc.
- Eni America Ltd.
- eni finance international S.A.
- Eni Finance USA Inc.
Action: Outlook: Stable
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Product Type: Research Update
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