S&P affirms AMCO’s BBB rating and improves outlook to positive
STANDARD & POOR’S AFFIRMS AMCO’S ‘BBB’ INVESTMENT GRADE RATING AND IMPROVES OUTLOOK TO POSITIVE
- Long-Term rating at BBB, Short-Term rating at A-2 and Outlook Positive
- AMCO’s role in the derisking of banks’ balance sheets continues to be perceived as crucial
Milan, October 26th, 2021. Today Standard & Poor’s (“S&P”) affirmed AMCO’s investment grade rating, with the Long-Term Issuer Credit Rating at ‘BBB’. Furthermore, S&P improved the outlook to Positive from Stable, mirroring that of the Italian Sovereign.
The rating agency continues attributing to AMCO a crucial role in the derisking of banks’ balance sheets. Furthermore, AMCO preserves financial stability, encourages lending and fosters economic growth.
S&P considers AMCO as a Government-related entity with an almost certain likelihood of financial support from the Italian Government, and therefore continues equalizing AMCO’s Long-Term rating to that of the Italian Sovereign.
As a reminder, on October 22nd, 2021 S&P revised the outlook on its ‘BBB/A-2’ Long-Term and Short-Term Italian Sovereign rating to Positive from Stable.