Moody’s Investors Service (Moody’s) confirmed Italgas’ long-term creditworthiness at Baa2, Stable Outlook. The certification of the rating – reads the Italgas press release – is based on the long track record of operational efficiency and on a solid financial position, as well as on the low risk profile associated with the gas distribution business.
In particular, the agency underlines the Company’s constant attention to cost optimization, achievable thanks to technological innovation and digitization initiatives, the ability to execute planned investments and the maintenance of an extremely low cost of debt, thanks to which the Company is able to support its profitability and a robust cash generation capacity.
Lastly, Moody’s highlights the result achieved by Italgas with the appointment as preferred bidder for the privatization of DEPA Infrastructure, the Greek company which owns 100% of the country’s gas distribution.