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