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Standard Ethics raised Cattolica Assicurazioni's rating to "EE-" from "E+"

Standard Ethics raised Cattolica Assicurazioni's rating to "EE-" from "E+"
08 February 2021 - Time: 14:28

Verona, 8 February 2021. Standard Ethics raised Cattolica Assicurazioni's rating to "EE-" from the previous "E+".

In its final report, Standard Ethics affirms that the path taken by Cattolica Assicurazioni in recent years in the field of ESG issues (Environmental, Social and Governance) has been adequately focused on environmental and social aspects and that it has also concerned non-financial reporting, the management of financial assets, commercial aspects. The strategy, according to the agency, appeared consistent with the voluntary indications of the UN, the OECD and the European Union and, following the decisions derived from the recent project of transforming Cattolica into a joint-stock company and after the capital increase launched in 2020, the issue of Sustainability has also entered the sphere of corporate governance.

The agency notes that positive commitments and transformations have been recorded for the rights of shareholders, for the qualitative and quantitative composition of the Board of Directors and for the selection of Directors. These are governance choices and projects that produce and will produce greater alignment with the main international indications and which are the basis of the improvement in the Outlook of July 2020 and the basis of today's rating upgrade, which is raised from "E+" to "EE- ".

The attribution of the Long Term Expected Rating "EE+" incorporates, according to Standard Ethics, expectations on the future quality of governance tools and ESG policies.