The rating is a summary indicator of a company’s "creditworthiness", and is provided by various independent international agencies (Rating Agencies)
The credibility of a company is assessed on the basis of the observation of a good revenue situation and the capacity to face up to debts in the short and long term.
In assigning the rating, the agencies apply an ordinal alphanumerical scale indicating the risk level of investment. The evaluation is accompanied by an indication of the Outlook, which expresses the expected trend in the near future (improving, stable or worsening) regarding the issuer’s rating.
Below are Telecom Italia's credit ratings, both current and historical, by the following credit bureaus:
Current Ratings
| S&P's | Moody's | Fitch Ratings | |||
|---|---|---|---|---|---|
| Latest update 4 October 2011 |
Latest update 8 September 2011 |
Latest update 8 November 2010 |
|||
| Rating | Outlook | Rating | Outlook | Rating | Outlook |
| BBB | Negative | Baa2 | Negative | BBB | Stabile |
Rating History
The following tables illustrate the development of Telecom Italia's rating within the latest 10 years.
Standard & Poor's
| Telecom Italia S.p.A. | 04/10/2011 | outlook changed | BBB | NEGATIVE |
| Telecom Italia S.p.A. | 17/03/2008 | rating changed/ outlook changed | BBB | STABLE |
| Telecom Italia S.p.A. | 30/03/2006 | rating confirmed/ outlook changed | BBB+ | NEGATIVE |
| New Telecom Italia S.p.A. (after merger with TIM) | 07/12/2004 | rating confirmed/ outlook changed | BBB+ | STABLE |
| New Telecom Italia S.p.A. | 26/11/2003 | rating confirmed/ outlook changed | BBB+ | POSITIVE |
| New Telecom Italia S.p.A. | 30/07/2003 | BBB+ | STABLE | |
| Telecom Italia S.p.A. | 12/03/2003 | rating confirmed/ outlook changed | BBB+ | STABLE |
| Telecom Italia S.p.A. | 05/06/2002 | rating confirmed/ outlook changed | BBB+ | POSITIVE |
| Telecom Italia S.p.A. | 01/10/2001 | rating confirmed/ positive watch removed | BBB+ | STABLE |
| Telecom Italia S.p.A. | 30/07/2001 | rating confirmed | BBB+ | POSITIVE WATCH |
| Telecom Italia S.p.A. | 02/04/2001 | rating confirmed | BBB+ | POSITIVE WATCH |
| Telecom Italia S.p.A. | 28/03/2001 | assignment of the rating | BBB+ | POSITIVE WATCH |
Moody's
| Telecom Italia S.p.A. | 08/09/2011 | outlook changed | Baa2 | NEGATIVE |
| New Telecom Italia S.p.A.(after merger with TIM) | 12/05/2008 | rating confirmed/ outlook changed | Baa2 | STABLE |
| New Telecom Italia S.p.A. (after merger with TIM) | 03/12/2007 | rating confirmed/ outlook changed | Baa2 | NEGATIVE |
| New Telecom Italia S.p.A. (after merger with TIM) | 07/12/2004 | rating confirmed | Baa2 | STABLE |
| New Telecom Italia S.p.A. | 12/08/2003 | Baa2 | STABLE | |
| Telecom Italia S.p.A. | 12/03/2003 | under review | NEGATIVE | |
| Telecom Italia S.p.A. | 19/12/2001 | rating confirmed/ outlook changed | Baa1 | POSITIVE |
| Telecom Italia S.p.A. | 02/10/2001 | under review | Baa1 | STABLE |
Fitch Ratings
| Telecom Italia S.p.A. |
11/12/2008 | rating changed/ outlook changed | BBB | STABLE |
| Telecom Italia S.p.A. |
11/04/2006 | rating changed/ outlook changed | BBB+ | STABLE |
| New Telecom Italia S.p.A. (after merger with TIM) | 07/12/2004 | rating confirmed/ outlook changed | A- | NEGATIVE |
| New Telecom Italia S.p.A. | 05/08/2003 riaffirmed 12/11/2004 |
A- | STABLE |