Bonds

On 05/06/2020 Cerved Rating Agency changed the rating of E.S.TR.A. S.p.A. A3.1 to B1.1.
The rating review reflects the physiological repercussions linked to the Covid-19 emergency on the performance of the gas sales and EE core business in FY20.
The Agency estimates that in FY20 the economic and financial performance lower than expected, in terms of volumes, margins and working capital management, will influence the Group's ability to reduce debt exposure.