(Alliance News) - Banco BPM Spa announced Wednesday that rating agency Moody's Investors Service has confirmed all of the bank's major investment grade ratings and assessments.

Among them, the long-term deposit rating was confirmed at Baa1, the long-term senior unsecured debt rating at Baa2, and the Baseline Credit Assessment at Baa3.

The confirmation of Banco BPM's ratings follows the upgrade made by Moody's on November 22 - by 2 notches for both the BCA and the Long-Term Senior Unsecured Debt rating and one notch for the Long-Term Deposit rating -, "which saw Moody's recognition of the significant strengthening of the group's financial profile, particularly in terms of asset quality and profitability, together with the strengthening of the capital position and the solid liquidity and funding profile," the bank specified in a statement.

Banco BPM's key long-term ratings outlook remains "Stable."

Banco BPM's stock closed Tuesday up 1.1 percent at EUR6.23 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.