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CDP RETI S.p.A. -- Moody's takes action on CDP RETI and CVA following the sovereign downgrade

Moody's Investors Service ("Moody's") has today confirmed CDP RETI S.p.A.'s ("CDP RETI") long-term issuer rating and the rating on CDP RETI's EUR750 million senior unsecured notes at Baa3. Concurrently, Moody's has downgraded the long-term issuer rating of Compagnia Valdostana delle Acque S.p.A. ("CVA") to Baa2 from Baa1. The rating actions were prompted by the rating agency's downgrade of the Government of Italy's bond rating to Baa3 with stable outlook from Baa2 under review for downgrade.