On the same date, the Mail, Parcels and Distribution segment of the Group has Liquidity for €599 million, invested in bank and postal current accounts, as well as in Italian Government Bonds (BTP) classified as HTCS (hold to collect and sale) for a total notional amount of €500 million. Such liquidity represents the Group's free liquidity generated by the company's self-financing capability, partly attributable to Poste SpA and partly deriving from the centralization of the Group liquidity and from the related cash pooling activity by the parent company.
Furthermore, as of 31 March 2019 the Poste Italiane SpA has committed credit lines of €1,750 million and short-term uncommitted credit lines of €953 million. All the credit lines, as of 31 March 2019, are fully undrawn.
Group Debt (€/m)
Note: all values are expressed at nominal value and exclude leases deriving from the application of IFRS 16, current account deposits of BancoPosta, repurchase agreements, derivative financial instruments and other financial liabilities mainly referring to BancoPosta assets.
* Note: the €50 million Private Placement has been swapped into a fixed rate.
|(Euro m)||Category||Amount||Issue date||Maturity||Issue price||Rate|
|EIB loan||Bank loan||173||12 March 2019||12 March 2026||n.a.||Fixed|
|Private Placement||Private Issue
|50||25 Oct. 2013||25 Oct. 2023||100.00||Fixed*|
|Public Issue||750||30 May 2014||30 May 2019||99.597||2.875%|
* Floating rate swapped in to fixed
|Standard & Poor's||Rating||Outlook||S/T|
|Poste Italiane S.p.A.||BBB||Neg||A-2|
|Poste Italiane S.p.A.||Baa3||Stab||P-3|
(*) Ratings solicited
Poste Italiane S.p.A.
|BBB / Neg / A-2||30/10/2018||Outlook Change||BBB / Stab / A-2|
|BBB / Stab / A-2||31/10/2017||Upgrade||BBB- / Stab / A-3|
|BBB- / Stab / A-3||12/12/2014||Downgrade||BBB / Neg|
|BBB / Neg / A-2||16/07/2013||Downgrade||BBB+ / Neg|
|BBB+ / Neg||18/01/2012||Downgrade||A- / Neg|
|A- / Neg||07/12/2011||Downgrade||A / Neg|
|Baa3/ Stab / P-3||23/10/2018||Downgrade||Baa2 / Neg / P-2|
|Baa2, Possible Downgrade / Ratings under Review / P-2, Possible Downgrade||30/05/2018||On watch - Possible Downgarde||Baa2 / Neg / P-2|
|Baa2 / Neg / P-2||12/12/2016||Outlook Change||Baa2 / Stab / P-2|
|Baa2 / Stab / P-2||18/02/2014||Outlook Change||Baa2 / Neg / P-2|
|Baa2 / Neg / P-2||16/07/2012||Downgrade||A3 / Neg|
|A3 / Neg||16/02/2012||Downgrade||A2 / Neg|
|A2 / Neg||05/10/2011||Downgrade||Aa2 / Neg|
Last Rating Actions and P.I. Analysis
|Agency||Long term||Short term||Outlook||Rating action / Affirmation||Credit Opinion Report|
|Standard & Poor's||BBB||A-2||Negative||18/03/2019||18/03/2019|