Milan, December 20 2012 – Edison informs that Standard & Poor's Ratings Services raised Edison Spa long and short term ratings by two notches, respectively to BBB/A-2 from BB+/B, with positive outlook.
S&P indicated that the rating improvement is determined by the successful completion of Edison’s equity capital restructuring. Following this transaction, EDF has gained the full control of Edison, has defined Edison as the group’s gas platform and has integrated Edison’s treasury and funding management into that of the group.
The rating improvement is also linked to the successful arbitrations for the long term gas import contracts signed with RasGas and ENI, through which Edison obtained a price review that made it possible to recover the profitability drop incurred by the natural gas supply activities over the past three years of these contracts.
The positive outlook reflects the possibility that Edison rating could be further raised within two years, if EDF were to show ongoing support for Edison and, in particular, with reference to its gas strategy and long-term plans for the company.
Public disclosure required by Consob Resolution No. 11971 of May 14, 1999, as amended.
Edison’s External Relations Department: T 02 6222 7331 E ufficiostampa@edison.it
Edison’s Investor Relations: T 02 6222 8415; E investor.relations@edison.it
