S&P rates Plenitude BBB

S&P said it assigned a preliminary BBB rating to Eni Plenitude SpA. The company is a wholly owned subsidiary of Eni SpA, which plans to sell up to 25% in an IPO.

“Plenitude is a key pillar of Eni's renewable strategy, as the group plans to expand and diversify its activities in the renewable energy segment and in lower-risk countries. This, together with Eni's commitment to remain a major shareholder of Plenitude, translates into three notches of uplift to the bb stand-alone credit profile (SACP),” S&P asid in a press release.

The outlook is stable.

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