Fitch pulls ITAS from watch

Fitch Ratings said it affirmed ITAS Mutua’s BB+ issuer default rating and removed it from rating watch negative.

“The removal of RWN reflects a number of management actions that have strengthened capitalization and aimed at improving the group's profitability. Fitch had placed ITAS's ratings on RWN on May 7, 2020, reflecting significant uncertainty and risk at that time to ITAS' earnings and capitalization due to the pandemic,” the agency said in a press release.

The outlook is negative.

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