S&P affirms Cattolica’s rating at BBB- outlook stable Stand-alone credit profile affirmed at bbb+
02 August 2016 - Time: 19:31
Verona, August 2nd, 2016
Today Standard & Poor’s has affirmed Cattolica’s rating at BBB- with a stable outlook.
S&P also affirmed Cattolica’s stand-alone credit profile (SACP) at bbb+, two notches higher than its financial strength rating at BBB-, which is still constrained by that of Italy, as set out under S&P’s criteria. The outlook is affirmed stable and it reflects the Italian market economic and financial trends.
The agency acknowledges both the Group’s financial risk profile, which remains at an “Upper adequate” level, and the reconfirmed stability of the business risk profile, which remains “Satisfactory” also thanks to a “Strong” competitive position within the Italian market and the well-diversified distribution networks.