Financial risks
Financial risks are illustrated in Note 26, “Financial risk management”, of the Notes to the consolidated financial statements.
Description |
Related material topics |
Mitigation actions |
Impact on capital |
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Interest rate changes |
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Cash Flow at Risk monitoring through an Asset & Liability Management (ALM) model |
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Liquidity: inability to meet payment commitments |
Minimising opportunity cost and maintaining a balance in terms of debt composition and maturity |
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Monitoring contractual protection clauses in loan agreements (e.g. negative pledge and pari passu clauses) |
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Constant monitoring of Snam’s rating indicators and the availability of long-term credit lines |
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Receivables |
Regular monitoring of the credit situation and systematic management of reminders and possible recovery actions for overdue debts at certain intervals |
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Check of the authenticity and validity of financial guarantees received |
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Reporting of any critical issues in the regulatory system that could lead to opportunistic/fraudulent behaviour by operators |
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