Fitch affirms Intesa Sanpaolo

Fitch Ratings said it affirmed Intesa Sanpaolo SpA's long-term issuer default rating at BBB and its viability rating at bbb.

The agency also affirmed Banca IMI's long-term issuer default rating at BBB.

The outlook is stable.

Fitch said the ratings reflect the leading franchises in several market segments in Italy and its diversified business model, which differentiates the bank domestically and has allowed it to generate better and more stable profitability than domestic peers.

This balances the bank's weak asset quality, the agency noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.