S&P affirms long-term and short-term ratings respectively at “BB-” and “B” and revised outlook

Banca popolare dell’Emilia Romagna informs that today Standard and Poor’s, as part of a broad review of the European banking system, affirmed BPER's long-term and short-term ratings respectively at “BB-” and “B” and revised the outlook to “negative” from “stable”.

The outlook revision follows the completion of rating agency review of potential extraordinary government support for European banks in case of crises as part of the process of implementing the regulatory framework of the EU Directive on the management and resolution of intermediaries’ crises, officially called the “Bank Recovery and Resolution Directive” which is expected to be effective from January 2016. Accordingly, the rating agency believes that the potential extraordinary government support available to the bank in case of crises will likely diminish.