(Finance) – Fitch Ratings revised the Outlook on the Long-Term Issuer Default Rating (IDR) rating Of Believe me to Positive from Stabile and confirmed the Long-Term Issuer IDR a “BBB” and the Viability Rating (VR) at “bbb”.
The improved Outlook follows the review of the Italian sovereign outlookimproved to Positive on October 18, 2024. The agency’s action also reflects the revision of the Outlook to positive from stable on the “bbb” score relating to Italian operational contextwhich had a positive impact on Fitch’s assessments of Credem’s business and risk profile.
The confirmation of Credem’s ratings mainly reflects the above-average asset quality and the diversified business modelconsidered by Fitch as a clear strategic and competitive advantage in Italy. The ratings also reflect the prudent credit and management policy of capital.