Moody’s has confirmed UniCredit Leasing’s issuer rating.
The rating agency has concluded its review of five Italian
companies, including Europe’s largest lessor, which saw its rating
unchanged to A1.
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The other financial institutions – all subsidiaries of larger
banking groups – were downgraded.
These included Santander Consumer Bank and Interbanca, now part
of GE.
According to Moody’s, however, UniCredit Leasing’s position has
weakened because of the deterioration of its asset quality and the
potential increase in bad debt.
But the rating agency expects the lessor’s parent company to
maintain its subsidiary “adequately capitalised”.
Antonio Fabrizio
