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Italy-Based Terna SpA Downgraded To 'A-' From 'A' On Sovereign Downgrade; Still On CreditWatch Negative Jan 12
Standard & Poors, January 2012
We lowered our long- and short-term unsolicited sovereign ratings on the Republic of Italy (BBB+/Negative/A-2) and assigned a negative outlook on Jan. 13, 2012. We are downgrading Terna SpA, lowering the long-term corporate credit rating on the Italian electricity transmission operator to 'A-' from 'A', and the short term rating to 'A-2' from 'A-1'. Our long-term corporate credit rating on Terna remains on CreditWatch with negative implications, reflecting our view that the deterioration of Italy's creditworthiness may put further pressure on the stand-alone credit profile and ratings on Terna. MILAN (Standard & Poor's) Jan. 20, 2012--Standard & Poor's Ratings Services today said it lowered its long-term corporate credit rating and senior unsecured debt rating on Italian electricity transmission system operator...
Companies mentioned in this report are: Terna SpA
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.