Research Update: Ratings On Italy-Based Veneto Banca Affirmed At 'BBB+/A-2' On Profit Stability; Outlook Negative On Integration Risks May 11
- Language: English
- Published: May 2011
On May 25, 2005, Standard & Poor's Ratings Services revised its outlook to positive from stable on Italian bank Veneto Banca SCRL, reflecting the bank's material reinforcement in capitalization and continuing outperformance of domestic peers in a recessionary economic environment. At the same time, Standard & Poor's affirmed all ratings on the bank, including its 'BBB+/A-2' counterparty credit ratings. The ratings on Veneto Banca reflect the bank's strong franchise in its home base of Treviso--a rich province in northeastern Italy--and its sound business and financial profile. Also factored into the ratings are the bank's strategic refocusing on its core local retail banking business and its good level of profitability. With 153 branches at year-end 2004, Veneto Banca is a midsize...
Companies mentioned in this report are:
- Veneto Banca SCPA
Action: Outlook: Positive
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Product Type: Research Update
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- Veneto Banca SCPA