Fitch affirms ITAS Mutua

Fitch Ratings said it affirmed ITAS Mutua's long-term issuer default rating at BBB- with a stable outlook.

The agency also affirmed ITAS' subordinated notes at BB.

The agency said ITAS' ratings are influenced by Italy's sovereign rating of BBB through its exposure to Italian-based debt securities, which is reflected in a view of ITAS' investment and asset risk.

Fitch said the affirmation of ITAS' ratings reflects its strong capitalization, low financial leverage and good financial performance.

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