Eni’s credit rating downgraded by Moody’s

Italy’s lower rating by Moody’s produced the downgrading of Eni’s long-term credit rating to Baa1 from A3 with Stable Outlook. This is despite the favorable trends and prospects for the company and the expectation of strong credit metrics. However, the company’s Baa1 rating is positioned above the Baa3 rating of the Italian sovereign to reflect Eni’s good credit strength and positive trend in upstream operations.