(Finance) – S&P Global Ratings has assigned a BPM desk The “BBB-” rating with positive outlook.
“His solid network in the richest regions of Northern Italy and its own well diversified business model will support the creditworthiness through the economic cycle” – writes the rating agency in a report – also in light of the fact that over the last few years the bank “has significantly strengthened its capitalization” and “successfully cleaned up its balance sheet ” from impaired loans.
The positive outlook – he adds – “reflects the possibility that the rating will be improved in the next 18-24 months if the bank will implement the issuance plan, increasing the buffer of subordinated assets available for a bail in and will make it clear that the additional buffer for loss absorption will remain sustainably above 350 basis points”.