Mediobanca: Fitch changes ratings following downgrade of Italian sovereign rating

Mediobanca hereby gives notice that Fitch has reduced the Bank’s long-term rating from “BBB+” to “BBB” while confirming its short-term rating at “F2”.

This follows the downgrade to the long-term ratings for the republic of Italy on 21 April 2017 from “BBB+” to “BBB”. Mediobanca’s short- and medium-term ratings are aligned with the sovereign ratings by which they are capped.

The outlook moves to Stable from Negative.

Updated ratings – which reflect the Group’s strong historical franchise in specialized business segments such as investment banking and consumer credit, its adequate risk appetite, capitalization and funding profile, and sound liquidity – are as follows:

• Long-term IDR: “BBB”, Outlook Stable
• Short-term IDR: “F2”
• Viability rating: “bbb”
• Support rating: “5”
• Support rating floor: “No Floor”

Milan, 27 April 2017