Moody's Ratings upgrades three Italian utilities following sovereign action
Moody's Ratings (Moody's) has today upgraded the long-term ratings of the following three Italian utilities: ACEA S.p.A. (ACEA), Hera S.p.A. (Hera), and Terna - Rete Elettrica Nazionale S.p.A. (Terna). We have concurrently affirmed Terna's short-term P-2 and (P)P-2 ratings. In addition, we have chan...Acea is engaged in services related to the energy services area, water services areas and areas of diversification (telecoms) and services. Co. operates prinicpally in the energy services area (electricity and urban heating) and in the water services area (fresh and waste water), supplying services mainly in the territory of Rome and its Province. In energy services, Co. maintains operations in the production, transmission and distribution of electricity. In water services, Co. is active in the abstraction, transport and distribution of fresh water of the Comune di Roma and several local authorities in the provinces of Rome and Rieti. Co. also maintains operations in telecommunications.
Hera is an Italian multi-utility in the environmental services, water, gas and electricity businesses. Co. has public service concession arrangements in place (distribution of natural gas via local gas pipelines, integrated water service and waste management services, including sweeping, collection, transport and waste recovery and disposal) in a part of the area where it operates and in almost all of the shareholder municipalities (provinces of Modena, Bologna, Ferrara, Forli-Cesena, Ravenna and Rimini).
Trasmissione Elettricita Rete Nazionale is a grid operator for energy transmission. Co. manages electricity transmission in Italy. Co. owns the concession relating to electricity dispatching and transmission, and maintains ownership of the capital assets and responsibility for defining the NTG Development Plan and the Defence Plan.
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