Standard & Poor’s ‘osserva’ Telecom

Standard & Poor’s ‘osserva’ Telecom

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Standard & Poor’s ‘osserva’ Telecom

Quella di Telecom Italia è stata ancora una giornata in ribasso a Piazza Affari, dove continua a mostrare segnali di cedimento successivamente alle dimissioni del presidente esecutivo Franco Bernabè avvenute lo scorso giovedì. La mossa dell’ex presidente esecutivo, se da una parte ha scongiurato l’aumento di capitale non apprezzato dal mercato, ha però aperto altre questioni, in primo luogo il declassamento del debito da parte delle agenzie di rating, nel caso in cui la società Tlc non riesca trovare un altro modo per rafforzare la struttura patrimoniale del gruppo. Intanto il fondo americano Blackrock lo scorso 1 ottobre è entrato nel capitale della società con una partecipazione del 5,132%.

Intanto Marco Patuano, amministratore delegato del gruppo Tlc a cui sono state assegnate tutte le deleghe, ha dichiarato che presenterà il piano industriale nel corso del consiglio di amministrazione del 7 novembre, a mano a mano che conterrà anche le decisioni future sulle partecipazioni estere, in particolar modo in America Latina: la vendita del Brasile potrebbe infatti evitare il downgrade a “junk”, anche se richiede tempi troppo “lunghi”, come ricordano oggi gli analisti di Equita.

Gli esperti, che sul titolo hanno dato conferma del giudizio hold con target price a 0,65 euro, evidenziano che le cessioni in America Latina potrebbero configurarsi come un catalyst positivo, ma nel breve periodo il newsflow sarà probabilmente influenzato da risultati deboli ed elevato rischio downgrade del debito. E Standard & Poor’s non ha perso tempo mettendo i rating BBB-/A-3 di Telecom in creditwatch negativo. Il giudizio sul merito del credito del gruppo di tlc potrebbe essere tagliato a livello junk, dopo le dimissioni del presidente esecutivo e l’incertezza sull’orientamento strategico futuro.

Rating

11/08/2020 – 04:15 PM

The rating is a summary indicator of a company’s “creditworthiness”, and is provided by various independent international agencies (Rating Agencies)

Below are Telecom Italia’s credit ratings, both current and historical, by the following credit bureaus:

Current Ratings assigned to the company

S&P’s

Fitch Ratings

Latest Update

30 September 2020

Ratings assigned to the bonds issued

All the bonds issued by Telecom Italia SpA, Telecom Italia Finance SA (guaranteed by Telecom Italia SpA) and Telecom Italia Capital SA (guaranteed by Telecom Italia SpA) are senior unsecured, therefore its’s applied to them the same rating assigned to the issuer.

Rating History

The following tables illustrate the development of Telecom Italia’s rating in a variable period.

Standard & Poor’s

Moody’s

Fitch Ratings

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