Two rating agencies have recently upgraded Italy’s Banca
Italease rating following a review for possible upgrade started
earlier this year.
Rating agency Moody’s, following the completion of a public
tender offer promoted by the lessor’s main shareholder Banco
Popolare, has upgraded the Italian lessor’s long and short-term
ratings, from “Ba1“ to “Baa3” and from “Not Prime” to
“Prime-3”.
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Similarly, Fitch Ratings has upgraded the Banca Italease short-
and long-term ratings, from “BBB-“ to “BBB+” and from “F3” to “F2”
respectively, placing both on negative outlook.
Earlier this year, troubled Banca Italease started an extensive
restructuring process, after a series of scandals and huge losses
hit the lessor back in 2007.
Antonio Fabrizio
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