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23.05.2016 19:54:00
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Saipem S.p.A. -- Moody's downgrades Saipem to Ba1 from (P)Baa3; outlook stable
London, 23 May 2016 -- Moody's Investors Service, ("Moody's") has today downgraded and converted the provisional (P)Baa3 long-term issuer rating of Saipem S.p.A. (Saipem or the company) into a definitive Ba1 Corporate Family Rating (CFR), in line with the rating agency's practice for corporates with non-investment-grade ratings and assigned a stable outlook on all ratings. Consequently, Saipem's (P)Baa3 issuer rating has been withdrawn.
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