Italy-Based Terna SpA Downgraded To 'A-' From 'A' On Sovereign Downgrade; Still On CreditWatch Negative Jan 12

Standard & Poors, January 2012

Abstract
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: Downgraded
Action: On CreditWatch:Negative

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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.

Terna SpA

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