Moody's takes action on six Italian issuers

Moody's Investors Service said it took ratings actions on six non-financial corporates domiciled in Italy.

The companies affected include Eni SpA, Esselunga SpA (Esselunga), Immobiliare Grande Distribuzione SiiQ SpA, Leonardo SpA, Poste Italiane SpA and RAI – Radiotelevisione italiana SpA.

The rating actions were prompted by the recent downgrade of Italy's government bond rating to Baa3 with a stable outlook from Baa2, Moody's explained.

The agency said it downgraded Eni's ratings to Baa1 from A3 and Poste's rating to Baa3 from Baa2. The outlook on both has been changed to stable.

Moody's also said it affirmed the Baa2 rating and changed the outlook to stable from negative on Esselunga and has affirmed the Ba1 rating and changed the outlook to stable from positive on Leonardo.

The agency also said it confirmed RAI's Baa3 rating and changed the outlook to stable and has affirmed IGD's Baa3 rating. IGD's outlook remains negative.

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