Banco BPM: S&P raises rating to "BBB+", outlook positive

(Il Sole 24 Ore Radiocor) - The rating agency S&P Global Ratings has upgraded Banco Bpm’s long-term rating to “BBB+” from the previous “BBB”. The outlook is positive. The decision, explains a statement from the agency, ‘stems primarily from the bank’s success in fully restoring its risk-adjusted capital position by absorbing the impacts of the acquisition of Anima – which was completed entirely in cash – and from the successful integration of Anima, which has strengthened the group’s position in the domestic wealth management market and the diversification of

revenue, as well as the extent to which it achieves its strategic targets’. S&P also expects that ‘Banco Bpm’s strong franchise and well-diversified business model will help to underpin the stability of its revenue and market position, despite the uncertainties

'economic'.

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