AI Terminal
Banco BPM SpA
Regulatory Filings • Mar 21, 2024
4282_rns_2024-03-21_cf49e1c9-d074-40d1-ae14-1b73b1d2e19b.pdf
Regulatory Filings
Open in ViewerOpens in native device viewer
| Informazione Regolamentata n. 1928-30-2024 |
Data/Ora Inizio Diffusione 21 Marzo 2024 18:54:30 |
Euronext Milan | |
|---|---|---|---|
| Societa' | : | BANCO BPM | |
| Identificativo Informazione Regolamentata |
: | 187780 | |
| Utenza - Referente | : | BANCOBPMN10 - Marconi | |
| Tipologia | : | 3.1 | |
| Data/Ora Ricezione | : | 21 Marzo 2024 18:54:30 | |
| Data/Ora Inizio Diffusione | : | 21 Marzo 2024 18:54:30 | |
| Oggetto | : | Fitch Ratings has updated Banco BPM's ratings, upgrading the Senior Preferred and Senior Non-Preferred debt ratings by one notch |
Testo del comunicato
Long-and Short-term Issuer Default ratings affirmed in the investment grade category, with Stable Outlook, recognizing the significant strengthening in the Group's financial profile
PRESS RELEASE
Fitch Ratings has updated Banco BPM's ratings, upgrading the Senior Preferred and Senior Non-Preferred debt ratings by one notch
• Long-and Short-term Issuer Default ratings affirmed in the investment grade category, with Stable Outlook, recognizing the significant strengthening in the Group's financial profile
According to Fitch, Banco BPM's ratings are underpinned by:
- strong business profile and business diversification;
- completion of the de-risking plan;
- significant improvement in profitability;
- adequate capitalization;
- solid funding profile.
- adequate capitalization;
Milan, 21 March 2024 – At the conclusion of the annual review process, it is hereby announced that, today, the rating agency Fitch Ratings (hereinafter "Fitch") has upgraded Banco BPM's Senior Preferred and Senior Non-Preferred debt ratings by one notch, thanks to the recognition by Fitch of solid buffers:
- Senior Long-Term Preferred rating: upgrade from 'BBB-' to 'BBB'
- Senior Long-Term Non-Preferred rating: upgrade from 'BB+' to 'BBB-'
At the same time, other key short and long-term ratings assigned to Banco BPM have been affirmed in the investment grade category, with Outlook 'Stable':
| - | 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 underpinned by Banco BPM's strong business profile and business diversification, the completion of the de-risking plan, the significant improvement in profitability, adequate capitalisation as well as its sound funding profile.
The IDR ratings assigned to Banca Akros, the Group's subsidiary specialized in CIB, are equalized with those of the Parent Bank, while Akros's Derivatives Counterparty Rating was upgraded one notch above its Long-Term IDR.
For further information, please refer to the press release published by Fitch today.
For information:
Media Relations e-mail: [email protected] Investor Relations e-mail: [email protected]