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S&P‘s decision is based on the improvement in Eni’s current and forecasted credit metrics, thanks to the company’s debt reduction and cash flow generation.
San Donato Milanese (MI), 30 August 2018 – Rating agency Standard & Poor’s has raised Eni’s long-term credit rating to ‘A-’ with Stable outlook.
Standard & Poor’s also confirmed Eni’s ‘A-2’ short-term credit rating.
S&P‘s decision is based on the improvement in Eni’s current and forecasted credit metrics, thanks to the company’s debt reduction and cash flow generation.
The Chief Executive Officer of Eni, Claudio Descalzi, commented: “I’m particularly pleased with this result, which highlights the work put into boosting our upstream portfolio, restructuring the mid-downstream businesses and strengthening our financial position. These results, achieved in spite of the unfavourable market cycle of recent years, have allowed us to maintain a solid business profile and regain an A rating as soon as the market started to show signs of greater stability again.”
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