Fitch upgrades Unipol Group ratings: UnipolSai at BBB+
Thursday, June 10, 2021 - 16:50
The rating agency Fitch Ratings has upgraded the Insurer Financial Strength Rating of UnipolSai Assicurazioni S.p.A. to “BBB+” from “BBB” or two notches above Italy's rating (BBB- / Stable Outlook). Consequently, the Issuer Credit Rating of Unipol Gruppo Finanziario went up to “BBB” from “BBB-”. The Group's debt ratings have also been upgraded by 1 notch:
- Unipol Group S.p.A. senior debts are now at "BBB-";
- UnipolSai Assicurazioni S.p.A. subordinated debts are now at "BB+";
- UnipolSai Assicurazioni S.p.A. perpetual RT1 debt is now at "BB-".
The rating agency outlook of the ratings remains “stable”.
In its assessment, the Fitch Committee recognised the soundness of the strategy and the Group's achievements, particularly with regard to the assets concentration risk in the investment portfolio and the strengthening of capital in 2020.
The full text of the press release issued by Fitch Ratings is attached.