DBRS turns Banco BPM trend to positive

DBRS said it confirmed the ratings of Banco BPM SpA, including the long-term issuer rating of BBB (low) and revised the trend to positive.

“The change of the trend to positive reflects our view that the risks associated with the global coronavirus pandemic (Covid-19) and its implications for Italy’s operating environment have now reduced. BBPM’s track record throughout the pandemic has been strong and the Bank has been able to significantly improve its asset quality, putting it in a stronger position to deal with any potential asset quality deterioration when the support measures expire,” DBRS said in a press release.

The revised trend also considers the bank’s commitment to reduce legacy non-performing exposure, the agency said.

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