(Tiper Stock Exchange) – DBRS Ratings has confirmed the ratings of Iccrea Banca, including the Long-Term Issuer Rating at BB (high) and the Short-Term Issuer Rating at R-3. The trend on all assessments has been changed to Positive from Stable.
The confirmation of the ratings and the change of trend to Positive from Stable take into account the key role of Iccrea as the central entity of the Iccrea Cooperative Banking Group, the largest Italian cooperative banking group, its strong retail funding and solid capital positionas well as the progress it is making to reduce its large stock of pre-existing NPLs and simplify their structure.
Consequently, according to DBRS Morningstar, the Iccrea Cooperative Banking Group is in one stronger position to withstand an expected deterioration in the operating environment due to ongoing high inflationary pressure, weaker economic growth and higher interest rates.