The Italian State is closely involved in CDP through its legally required majority ownership, tight supervision on public-interest activities performed by the company and the explicit and unconditional guarantee on postal savings products.
As a result, all three rating agencies assigned CDP the same rating as the Republic of Italy to reflect the close links and the strategic value of the company to the Italian State. In other words, it is understood that support from tue Italian State would be extremely likely in case of need.
Please find below a table with the ratings assigned to CDP by the main rating agencies: Fitch, Moody's and Standard & Poor's.
|STANDARD & POOR'S||A-2||BBB+||Negative||November 14, 2012||Rating Action|
|January 17, 2012||Rating Action|
|September 21, 2011||Credit Analysis|
|May 24, 2011||Credit Analysis|
|December 7, 2010||Credit Analysis|
|MOODY'S||P-2||Baa2||Negative||February 26, 2013||Credit Opinion|
|Aug 8, 2012||Credit Opinion|
|July 16, 2012||Rating Action|
|February 16, 2012||Credit Opinion|
|February 15, 2012||Rating Action|
|October 5, 2011||Rating Action|
|July 5, 2011||Credit Opinion|
|June 23, 2011||Announcement|
|December 20, 2010||Credit Analysis|
|FITCH||F2||BBB+||Negative||March, 13, 2013||Rating|
|December 19, 2012||Rating Action|
|February 2, 2012||Rating Action|
|October 10, 2011||Rating Action|
|March 8, 2010||Credit Analysis|
Last update: 04/04/2013