The rating reflects Intesa’s bancassurance business model, leading market position in Italy, and strong financial fundamentals. Geographic diversification is limited compared to peers.

In the context of Scope Ratings’ strategy of focussing on the needs of institutional investors, Scope will offer its unsolicited bank and covered bond credit ratings on a subscription basis only via its credit intelligence platform.

Scope has updated its issuer rating report on Intesa Sanpaolo SpA, rated A with stable outlook.

The Outlook change applies to the issuer ratings and other long-term ratings of Intesa, UniCredit and IBL. Short-term ratings have been affirmed with Stable Outlook.

Intesa and Unicredit’s Issuer Rating and other long-term ratings’ outlook affected; similar outlook adjustment for publicly rated IBL. Short-term ratings are affirmed with Stable Outlook.

Scope Ratings has updated its rating report on Intesa’s AT1 securities.

The Additional Tier 1 market reaches a landmark in 2018 as the earliest issues hit their first call dates. The investor base has grown, and terms and structures have standardised. But what lessons should be learned from developments in this market?

Scope Ratings has updated its rating report on Intesa, rated A with Stable Outlook.

Rating upgrades address new seniority ranking in resolution following passage of the 2018 Budget law, which introduces non-preferred senior debt in Italy.

Rating upgrade reflects Scope’s view of these banks’ reassuring liquidity dynamics, positively impacted by European supervisors’ enhanced focus on bank liquidity and funding.