Moody's rating agency on Thursday lowered Italian energy giant ENIi’s credit rating from A3 to Baa1, with a stable outlook amid a fall in oil prices and weak industry conditions.
"Eni's operations and credit metrics will be weak in 2016 and 2017 as low oil prices and weak downstream gas markets continue to take a toll on the company's cash flow," said Tom Coleman, a senior vice president at Moody's.
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