Research Update: Ferrovie dello Stato Italiane Assigned 'A-2' Short-Term Issuer Credit Rating; Euro Commercial Paper Program Rated 'A-2'

Italy-based rail and transportation group Ferrovie dello Stato Italiane S.p.A. (FSI) has set up a €2 billion euro commercial paper (ECP) program. We assigned our 'A-2' short-term issuer credit rating to FSI and our 'A-2' short-term issue credit rating to its ECP program. The 'BBB' long-term issuer credit rating and stable outlook on FSI remain unchanged. General Criteria: Environmental, Social, And Governance Principles In Credit Ratings, Oct. 10, 2021 General Criteria: Group Rating Methodology, July 1, 2019 Criteria Corporates General: Corporate Methodology: Ratios And Adjustments, April 1, 2019 Criteria Corporates General: Reflecting Subordination Risk In Corporate Issue Ratings, March 28, 2018 General Criteria: Methodology For Linking Long-Term And Short-Term Ratings, April 7, 2017 General Criteria: Rating

...- Italy-based rail and transportation group Ferrovie dello Stato Italiane S.p.A. (FSI) has set up a 2 billion euro commercial paper (ECP) program. - We assigned our 'A-2' short-term issuer credit rating to FSI and our 'A-2' short-term issue credit rating to its ECP program. - The '###' long-term issuer credit rating and stable outlook on FSI remain unchanged....

Research Update