Fitch upgrades BPER’s ratings - Deposit rating upgraded to Investment Grade IDR upgraded to BB+

BPER Banca informs that Fitch Ratings has today upgraded the company’s ratings. In particular, the long-term deposit rating was upgraded from “BB+” to Investment Grade “BBB-“ and the long-term issuer rating was  upgraded  from “BB” to “BB+”, with the outlook confirmed as “Stable”.

The upgrade reflects, on the one hand, BPER’s adequate capitalisation, combined with a material improvement in asset quality driven by a significantly lower non-performing loan ratio. On the other, it reflects the benefits in terms of competitive position, volumes and profitability prospects arising from the acquisition of the going concern from Intesa Sanpaolo.