Rome, 7 March 2012 – Fitch has today announced that it has downgraded Acea SpA’s longterm rating to “A-” (from the previous “A”), with a “negative” outlook.  The change is due, among other things, to the following reasons: current regulatory uncertainty in the water sector; the Energy segment’s  ew “business profile”, less balanced between the production and sale of energy; uncertainty linked to the future dividend policy; and the downgrade of Italy. As regards the Environment segment, where Acea is looking to expand significantly, the Agency pointed to the continuing lack of a stable regulatory framework.  The “negative” outlook reflects Fitch’s expectations of particularly tough economic conditions in general