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Milan, 26th March 2020 – Moody’s has confirmed Banca Farmafactoring’s current ratings with positive outlook, for both the Long-term issuer rating (“Ba1”) and the Long-term deposit rating (“Baa3”). The announcement comes out today, while Moody’s takes a negative action against 14 Italian banks.
The ratings assigned to Banca Farmafactoring S.p.A. by Moody’s are as follows:
Long-term issuer rating: “Ba1”, positive outlook;
Long-term deposit rating: “Baa3”, positive outlook;
Short-term deposit rating: “P-3”;
Baseline credit assessment (BCA): “Ba3”.
Emanuele Bona, CFO, said: “Moody’s decision confirms BFF’s financial solidity, despite the critical phase due to the Covid-19 emergency. This also makes BFF the only bank in Italy rated by Moody's with a positive outlook.”
For more information, please see Moody’s press release on the rating agency’s website, at the following link: https://www.moodys.com/research/Moodys-takes-actions-on-15-Italian-banks--PR_420258%201.