Over the weekend, the Italian markets expected Moody's to trip up, but instead it was Fitch who moved. Fortunately, the rating agency has not aimed its sights at Italy's entire sovereign debt, but only at Edison's shares. The energy company saw its rating cut from BBB to BBB- after the new extension until October 30 of the shareholders' agreements that regulate its governance.
“It is the second missed opportunity to put an end to the uncertainties regarding Edison's capital structure – explains Fitch in a note -. The downgrade reflects the fact that Edison's operating and financial performance is set to deteriorate further due to the continuation of operating limbo and the lack of strategic and managerial direction.
In Piazza Affari, Edison's stock managed to limit the damage, managing to remain equal shortly after 16 pm.
