Moody’s gives Banca Ifis Baa3, Ba2

Moody’s Investors Service said it gave Banca Ifis SpA Baa3 issuer and senior unsecured ratings and a Ba2 subordinate debt rating.

The long-term issuer and senior unsecured debt ratings assigned reflect the extremely low and very low loss given failure resulting in two notches for senior unsecured debts above the adjusted baseline credit assessment of ba2 according to Moody's advanced loss given failure assessment, the agency said.

“The Ba3 subordinated debt rating has a one-notch downward adjustment from the Adjusted BCA, as this instrument carries high loss-given-failure according to Moody's advanced LGF analysis,” the agency said in a press release.

The outlook is stable.

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