trending Market Intelligence /marketintelligence/en/news-insights/trending/JPHhwbEzeDe4mroDKkfxmA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Fitch upgrades Banca Popolare di Vicenza's debt, affirms Veneto Banca ratings

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


Fitch upgrades Banca Popolare di Vicenza's debt, affirms Veneto Banca ratings

Fitch Ratings on Aug. 2 upgraded Banca Popolare di Vicenza SpA's debt and affirmed certain ratings of Veneto Banca SpA, after the notes of both banks were transferred to Intesa Sanpaolo SpA.

The agency upgraded the long-term senior unsecured debt of Banca Popolare di Vicenza to BBB from CCC/RR4 and removed the rating from Rating Watch Positive. The agency also affirmed the bank's long- and short-term issuer default ratings at D, its viability rating at "f", its 5 support rating and the No Floor support rating floor. The ratings were subsequently withdrawn.

At the same time, Fitch affirmed the state-guaranteed debt for both banks at BBB.

The Italian Senate approved a government decree to liquidate both banks in late July, passing the measure for the rescue of the two lenders into law.