Moody's rates SNAM debt Baa1

Moody's Investors Service said it assigned an issuer rating of Baa1 to SNAM SpA.

Moody's also assigned provisional long-term ratings of Baa1 to SNAM's: (a) €8 billion euro medium-term note program; (b) €6 billion bridge-to-bond facility; (c) €2 billion revolving credit facility; (d) €1.5 billion revolving credit facility; and (e) €1.5 billion term loan facility.

The outlook is stable.

Moody's said SNAM's ratings reflect the low business risk profile associated with its transport, regasification, storage and distribution of natural gas operations.

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