(Finance) – Moody’s raised one notch i long-term and short-term deposit ratings from BPER Bank to Baa2 / Prime-2 from Baa3 / Prime-3 and the long-term Counterparty Risk Ratings (CRR) to Baa1 from Baa2. The long-term issuer and senior debt ratings BPER’s unsecured has been upgraded two notches to Ba1 from Ba3, as well as the senior unsecured MTN program rating at (P) Ba1 from (P) Ba3.
The rating agency has also updated all ratings and ratings of Banca Carige, aligning them with BPER ratings and evaluationsconcluding the review for the update initiated on December 28, 2021. This follows the acquisition in June 2022 of approximately 80% of the capital of Carige by BPER and the launch of a mandatory takeover bid on the remaining 20% of the shares by the end of 2022.
The outlook on BPER’s long-term deposit, issuer and senior unsecured debt ratings has been changed positive to stable. The outlook on the long-term ratings of Carige’s deposits and issuers was changed to stable with respect to the ratings in question to be in line with BPER’s outlook.