Moody's changes A2A to stble

Moody's Investors Service said it changed to stable from negative the outlook on the Baa3 long-term issuer and senior unsecured ratings of A2A SpA.

Concurrently, the agency affirmed the company's issuer and senior unsecured Baa3 ratings, as well as the provisional Baa3/ provisional P-3 ratings of the company's euro medium-term note program.

Moody's said its decision to stabilize A2A's outlook reflects the company's successful effort to reduce leverage and strengthen its liquidity profile, as confirmed after 2013 results. Moody's action also follows the rating agency's expectation that the company would be able to defend a financial profile consistent with its current rating, notwithstanding weak domestic energy markets and the negative effect Moody's expects that this will have on A2A's operating profitability.

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