Italgas: Fitch Ratings (Fitch) affirms rating and outlook

Milan, October 9, 2024 – The rating agency Fitch affirmed today Italgas S.p.A’s Long-term Issuer rating at ‘BBB+’, Stable Outlook.

The ‘BBB+’ rating affirmation “follows the agreement reached for the acquisition of 2i Rete Gas S.p.A. and reflects the improved business risk profile of the combined entity, expected funds from operations (FFO) net leverage consistent with the current rating (also thanks to the expected equity increase)” and the commitments made by management towards deleveraging.

Furthermore, the rating reflects Italgas’s positive track record in executing acquisitions and enhancing operating profitability, recognizing its ability to anticipate gas sector trends with the aim of effectively handling and managing renewable gases.