Banca popolare dell`Emilia Romagna: Fitch Ratings
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Banca popolare dell`Emilia Romagna: Fitch Ratings
PRESS RELEASE Banca popolare dell’Emilia Romagna: Fitch Ratings affirms the Bank’s long and short term ratings respectively to “BBB” and “F3” with outlook “negative” . Modena – August 28th 2012. Banca popolare dell’Emilia Romagna informs that today, the rating agency Fitch has affirmed the Bank’s long-term rating to “BBB” and the short-term rating to “F3” with outlook “negative”. BPER’s ratings have been affirmed because Fitch considers the bank’s operating performance, capitalisation and funding structure relatively resilient in the current economic downturn. BPER’s pre-impairment operating profitability has remained adequate and Fitch expects the bank to generate sufficient earnings to cover rising loan impairment charges given the assumption that the bank’s asset quality is weak and will deteriorate further given the weak economic performance in Italy. BPER’s ratings would come under pressure in case of a sharper than expected deterioration in asset quality, bank’s ability to generate earnings deteriorated materially or bank failed to maintain its capitalization. At the same time, Fitch has affirmed Meliorbanca’s “Long-term” and “Short-term” rating respectively to “BBB” and “F3” with Outlook “negative”. The original text of the press release published by Fitch is available on the rating agency’s web site (www.fitchratings.com). BANCA POPOLARE DELL’EMILIA ROMAGNA Società cooperativa Investor Relations Gilberto Borghi Tel. (+39)059/202 2194 [email protected] External Relations - Press Eugenio Tangerini Tel. (+39)059/202 1330 [email protected] www.bper.it - www.gruppobper.it This is a translation into English of the original in Italian. The Italian text shall prevail over the English version.