(Finance) – Moody’s confirmed the long-term (LT) and short-term (ST) ratings on the deposits assigned to Banca Sella Holding to “Baa3” and “Prime3” respectively. The outlook on the long-term rating remains stable. The rating agency also assigned long-term (LT) and short-term (ST) ratings on deposits to Sella Bank equal to “Baa3” and “Prime-3” respectively. The outlook assigned to the long-term rating is stable.
The outlook is stable – explains Moody’s – on the expectation that the Group profitability in 2024 will likely decline slightly, as the rising cost of risk and declining margins will put pressure on revenue generation. Moody’s also expects capital to remain broadly stable and wholesale funding to partially replace the full repayment of the ECB’s TLTRO loans.