Fitch lifts BPER Banca

Fitch Ratings said it raised BPER Banca SpA's long-term issuer default rating to BB+ from BB.

“The upgrade reflects BPER's improved asset quality and capital encumbrance from unreserved impaired loans due to the execution of the bank's non-performing loan de-risking strategy, as well as a strengthened franchise. It also reflects improvements to both business prospects and an overall financial profile, following the acquisition of 620 branches from Intesa SanPaolo SpA (IntesaSP, BBB-/stable) in 1H21,” the agency said in a press release.

The outlook is stable.

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