DBRS rates Banca Popolare di Sondrio BBB (low)

DBRS said it assigned a BBB (low) long-term issuer rating to Banca Popolare di Sondrio.

The trend is stable.

“The assigned long-term issuer rating of BBB (low) and the stable trend reflect the bank’s small national position but solid franchise in the region of Lombardy, especially in the province of Sondrio, with a robust retail funding base, its modest but resilient profitably, as well as ample capital buffers over the supervisory requirements. The ratings also take into account the bank’s large, albeit reducing, stock of non-performing exposures (NPEs) and the challenges that the bank may face to complete its pending legal transformation into a joint stock company, expected by end-2020,” said DBRS in a press release.

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