Moody’s changes Italian utilities to negative

Moody's Investors Service said it affirmed the ratings and changed the outlook on the following Italian utility issuers to negative from stable: CDP RETI SpA, Compagnia Valdostana delle Acque SpA, Hera SpA, Italgas SpA, SNAM SpA and Terna - Rete Elettrica Nazionale SpA.

Concurrently the agency affirmed the ratings and maintained a stable outlook on the following Italian utility issuers: 2i Rete Gas SpA, ACEA SpA and Enel SpA. It also affirmed the rating of Endesa SA, a subsidiary of Enel.

Moody’s said the action follows the outlook change to negative from stable on the Italian government's Baa2 debt rating.

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