Rating

Rating assigned to Terna's Debt by Rating Agencies Standard&Poor's, Moody's and Fitch, representative of credit merit of the Company

Standard and Poor’s
	Outlook	Stable
	M/L Term	A+
	Short Term	A-1
Moody’s
	Outlook	Stable
	M/L Term	A2
	Short Term	P-1
Fitch
	Outlook	Stable
	M/L Term(1)	A
	Short Term	F1

(1) Issuer Default Rating