This site uses technical, analytical and profiling cookies, own and other sites, to send you advertising and services in line with your preferences. For information and to find out how to refuse consent to their use or how to disable them click here. By clicking on any point on the screen, scrolling the page or closing this banner, you consent to the use of all cookies.
Moody’s improves BPER Banca’s outlook to “positive” - Long-term deposit and issuer ratings affirmed
BPER Banca informs that the international rating agency Moody’s has revised upwards the outlook to “positive” from “negative”. Long-term deposit and issuer ratings are affirmed at “Baa3” and “Ba3” respectively.
The rating action follows the announcement made by the Bank on 8 February 2019 that the Board of Directors approved the acquisition of 100% of Unipol Banca from Unipol Group. At the same time, the Bank also announced the disposal to UnipolReC of a bad loans portfolio for approximately € 1.0 billion and the acquisition of its residual stake in the subsidiary Banco di Sardegna, of which it already held 51% of the ordinary shares, from Fondazione di Sardegna.
Moody’s considers the announcement of these strategic transactions as credit positive. Moody’s expects the transactions to strengthen the BPER franchise in Italy, improve its asset quality, and create opportunities for cost synergies, while having a marginal negative impact on capital.