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The rating agency lauds Business Plan results. CDP Group represents "excellence among the National Promotional Institutes in Europe"
"CDP is on track to achieve its five-year-business-plan target, which foresees an increase of deployed resources, reaching €160 billion," according to Moody's rating agency following an in-depth company analysis.
With more than €30 billion allocated in 2016 (equivalent to 20% of the five-year target), CDP will reach its 2016-2020 Business- Plan targets by significantly increasing resources mobilized for Italian economy. There is a growing burden on Italy’s economic development, especially after it CDP named a National Promotion Institute, which makes CDP the reference point in Italy for managing the Juncker-Plan funds.
With the ambitious goals its 2016-2020 Business Plan, CDP will be able to maintain a solid and sustainable financial profile due to the contribution of Poste Italiane, which strengthened its capital base. Moody's also points to the profitability of the company: in the coming months CDP will be profitable, capable of sustaining growth on its own, continuing to pay a good dividend to shareholders.
CDP is best in class among the European National Promotional Institutions, with the lowest level of deteriorated credit and a capital base among the highest.
Moody's expresses a positive opinion on the first year of implementation of the Business Plan 2020. #wepromotethefuture