Moody’s affirms Italgas at ‘Baa1’, Negative Outlook

Milan, 12 October 2017 – Moody’s Investors Service (“Moody’s”) has affirmed Italgas S.p.A Long-Term Issuer Rating at ‘Baa1’ with Negative Outlook. The rating affirmation reflects the Group’s strong focus on domestic low-risk gas distribution activities under a well-established and supportive regulatory framework. Moody’s highlights Italgas’s strong cash flow generation and the good degree of operating efficiencies that would allow the Company to have a competitive advantage in the upcoming gas concession tenders.