Fitch changes BPER Banca view

Fitch Ratings said it revised the outlook on BPER Banca SpA's long-term issuer default rating to positive from stable and affirmed the IDR at BB.

The agency also affirmed the viability rating at bb.

Fitch said the ratings reflect the bank’s sound second-tier multi-regional franchise in Italy, a sufficiently diversified and relatively stable business model, adequate funding and liquidity profile and management's commitment to materially reduce its large stock of impaired loans.

The agency said the revision of the outlook reflects an expectation that the bank's overall financial profile will benefit from a planned material asset quality clean-up over the next 18 to 24 months.

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