(Finance) – At the conclusion of the annual review process, the rating company Fitch has improved by one notch the Senior Preferred and Senior Non-Preferred debt ratings of BPM desk, thanks to Fitch’s recognition of solid buffers, Senior Long-Term Preferred Rating: upgrade from ‘BBB-‘ to ‘BBB’; Senior Long-Term Non-Preferred Rating: upgraded from ‘BB+’ to ‘BBB-‘.
At the same time, the other main short and long-term ratings assigned to Banco BPM were confirmed in the investment grade category, with a ‘Stable’ Outlook: Long-Term Issuer Default Rating (IDR): ‘BBB-‘/ ‘Stable’; Short-Term IDR: ‘F3’; Viability Rating (VR): ‘bbb-‘; Long-term Deposit rating: ‘BBB’; Short-term Deposit rating: ‘F3’.
The ratings are supported by Banco BPM’s strong business profile and diversification of its activities, completion of the de-risking plan, significant improvement in profitability, adequate capitalization and solid funding profile.
The IDR ratings assigned to Banca Akros, the Group’s subsidiary specialized in CIB, are equivalent to those of the Parent Company, while Akros’ Derivatives Counterparty Rating has been improved by one notch compared to its Long-Term IDR.