From negative to stable. Standard & Poor's has revised Acea's outlook, justifying the change of opinion with the results obtained by the management, in particular the improvement of the liquidity of the company, thanks to the actions undertaken aimed at increasing the financial flexibility of the group. In the report, the rating agency states that the efficiency of operational management, cost cutting, overcoming billing issues and credit stabilization, even in the presence of an increase in revenues, have positively contributed to cash generation .
"These results - explains Acea - were achieved in a macroeconomic context that is still particularly difficult for Italy".
The only source of uncertainty in the management of the company, according to S&P, is given by the Municipality of Rome, a shareholder with 51% of the utility, which could potentially expose Acea to the risk of political interference in management.
The Fitch agency had expressed its opinion on the Municipality of Rome in recent days, announcing the cut of the long-term debt rating from 'Bbb+' to 'Bbb' with a negative outlook. In a note, the agency justified the choice with the current "political uncertainties that could lead to a protracted deficit in the medium term".
By mid-morning, the Acea share gained 0,4%.
