Unipol Group: Fitch updates UnipolSai’s Rating to “BBB”
The rating agency Fitch Ratings, as a result of the downgrade of the Italian sovereign credit rating, has automatically downgraded the Insurer Financial Strength Rating of UnipolSai Assicurazioni S.p.A. to “BBB” from “BBB+”. Consequently, the Issuer Credit Rating of Unipol Gruppo S.p.A. went down to “BBB-” from “BBB”. The Group's debt ratings have also been downgraded by 1 notch:
- Unipol Gruppo S.p.A. senior debts have are now at "BB+";
- UnipolSai Assicurazioni S.p.A. subordinated debts dated 2021 and 2023 are now at "BB+";
- UnipolSai Assicurazioni S.p.A. subordinated debts dated 2028 is now at "BB";
- UnipolSai Assicurazioni S.p.A. perpetual subordinated debt is now at "BB".
The rating agency improved the outlook of the ratings, from “negative” to “stable”.
The full text of the press release issued by Fitch Ratings is attached.
Read the complete Press Release.