Rating agency Fitch has upgraded Iren S.p.A.'s senior unsecured debt rating from "BBB" to "BBB+" and its hybrid bonds from "BB+" to "BBB-," following the recent upgrade to Italy's Long-Term Issuer Default Rating (IDR).
Investors
Fitch raised Iren's debt rating following Italy's rating upgrade
Fitch raised Iren's debt rating following Italy's rating upgrade
26 Sep 2025
Iren's senior unsecured debt rating is upgraded one notch from Iren's corporate rating (Long-Term IDR) of "BBB" to reflect the lower risks associated with debt instruments issued by utilities with more than 50% of their earnings from regulated activities.
The hybrid bonds are rated two notches lower than the senior debt rating and are rated Investment Grade BBB-.
Fitch Ratings' full report is available at https://www.fitchratings.com/research/corporate-finance/fitch-upgrades-iren-debt-on-italy-sovereign-upgrade-25-09-2025