(Finance) – The agency Fitch Ratings (Fitch) revised the outlook of Cassa Centrale Bancafrom Stabile to Positive confirming the assigned ratings: Long-Term Issuer Default Rating / Senior preferred debt “BBB-“, Short-Term Issuer Default Rating “F3”, Long-Term Deposits “BBB”,
Short-Term Deposits “F3”.
The Cassa Centrale Group has demonstrated a further improvement in its ability to diversification of revenue sources and in profitability following the initiatives implemented in Strategic Plan for the growth of commission revenues and the continuous cost efficiency.
The affirmation of the ratings (BBB – the long-term opinion on the issuer) and the improvement of the outlook also reflect a level of capitalization that remains at the top of the Systemsupported by high internal capital generation. Attention to asset quality remained constant, with an extremely prudent coverage rate for impaired loans.
“The improvement in the outlook by Fitch together with the recent upgrade of the rating carried out by Morningstar DBRS, represent for us an important recognition of the economic and financial progress achieved in recent years by the Group”, he commented Sandro Bolognesi, CEO of Cassa Centrale Banca.