Cassa depositi e prestiti

Credit rating

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.
  

Agencies Short-Term Long-Term Outlook Publishing date Report
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