S&P revises upward Cattolica's Stand-Alone Credit Profile to bbb+ and affirms Cattolica's rating at BBB- outlook stable
Verona, July 29th 2015
Today Standard & Poor’s has affirmed Cattolica’s rating at BBB- with a stable outlook.
The rating 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. S&P instead revises upward Cattolica’s Stand-Alone Credit Profile (SACP) from bbb to bbb+.
The agency acknowledges both the improvement of the Group’s financial risk profile, that now stands 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.