Moody's has raised Terna's long-term rating, taking it from Baa2 to Baa1This is an improvement of one "notch", that is, one step on the credit rating scale. With this update, the rating on the company is now slightly higher than that attributed to the Italian Republic. short-term rating instead remains unchanged a Prime-2, which measures the company's ability to meet debts with shorter maturities.
The agency also revised upwards the subordinated debt rating – the so-called “hybrid”, a riskier instrument for investors because it is repaid after other debts – bringing it from Ba1 to Baa3, a level that falls into the investment grade category (i.e. considered to be of adequate quality and not speculative).outlook, the forecast on the future trend of the rating, goes from positive to stable.
The updated judgment comes after Moody's upgrades Italy's sovereign rating and is part of a general realignment of ratings. The decision signals that, according to the agency, Terna's economic and financial indicators remain consistent with the new credit rating range.
