Rating

In May 2025, Moody’s announced that it has improved Acea’s outlook to “positive” from “stable”. At the same time, the rating agency confirmed Acea’s Long-Term Issuer Rating and the Senior unsecured ratings at “Baa2”, the Baseline Credit Assessment at “Baa2” and the provisional “(P)Baa2” rating assigned to the 5 billion Euro EMTN programme. The improvement in Acea’s outlook follows the same trend of the Italy’s sovereign debt announced on Friday 23 May. The change also reflects the company’s “solid financial profile”.

In March 2024, Fitch has improved Acea's outlook to “Stable” from “Negative” and has confirmed its Long-Term Issuer Default Rating (IDR) and senior unsecured ratings at 'BBB+'. The outlook change mainly follows Acea’s solid 2023 financial performance, improved working-capital management, and a clear target leverage set at a company-defined net debt/EBITDA up to 3.5x. The affirmation of the rating “BBB+” reflects Acea's robust business model and strategy outlined in its 2024-2028 business plan, mainly focused on regulated water and electricity distribution as well as on incentivised waste treatment activities.

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