Press releases

12 Jun 2020 20:10 | Relevant information
Following the expected acquisition of DEPObank, Moody’s confirms all BFF’s current ratings and changes the outlook on Long-term Issuer Rating to Developing from Positive
Outlook on deposit rating remains positive

Milan, 12th June 2020 – Today Moody’s has confirmed all Banca Farmafactoring S.p.A. (“BFF”) current ratings, with Developing outlook (from Positive) for the Long-term Issuer Rating (“Ba1”) and Positive outlook for the Long-term Bank Deposits Rating (“Baa3”).

The rating actions follow our announcement of 13th May 2020 about the signing of a binding agreement for the acquisition of DEPObank – Banca Depositaria Italiana S.p.A., expected to be completed by the end of 2020. The Developing outlook reflects the agency’s view that there could be positive or negative pressure on the rating, depending on the successful execution of the acquisition.

To sum up, the ratings assigned to BFF by Moody’s are as follows:

  • Long-term Issuer Rating: “Ba1”, Developing outlook;
  • Long-term Bank Deposits Rating: “Baa3”, Positive outlook;
  • Short-term Bank Deposits Rating: “P-3”;
  • Baseline Credit Assessment (BCA): “Ba3”.

 

For more information, please see Moody’s press release, published on the rating agency’s website at the following link: https://www.moodys.com/research/Moodys-changes-the-outlook-on-Banca-Farmafactorings-Ba1-issuer-rating--PR_426085.

The ratings have also been published on the Investors > Rating section of BFF Group’s website www.bffgroup.com.