Milan, June 17, 2011 – Edison informs that Moody’s rating agency has today confirmed Edison’s long-term credit rating as Baa3, while the outlook has been reviewed from stable to negative.
According to Moody’s, the downgrade reflects the increasing company’s risk profile, due to the persistent weakness of the energy market and also the business risks in renegotiating the long-term gas contracts.
Edison is confident to renegotiate successfully at least one long-term supply gas contract by the end of the year. The Company’s objective will continue to be to secure both reasonable margins on its gas contracts and lump-sum compensation payments for the previous years.
