Fitch Confirms illimity Bank Ratings, Outlook Upgraded to Positive

illimity Bank SpA ( (IT:ILTY) ) has shared an update.

Fitch Ratings has confirmed all ratings for illimity Bank S.p.A., maintaining the long-term issuer rating at ‘BB-‘ while revising the outlook to Rating Watch Positive. This change follows Banca Ifis’s announcement of a voluntary Public Offer of Purchase and Exchange for all shares of illimity, indicating potential future developments in the company’s market position and shareholder structure.

More about illimity Bank SpA

illimity Bank S.p.A. is a banking group led by Corrado Passera, focusing on providing credit to SMEs, particularly in performing, restructuring, and relaunching sectors, as well as offering investment banking services. The group also engages in credit management and asset management through ARECneprix and manages Alternative Investment Funds via illimity SGR. Founded in January 2018, illimity emerged from the merger of SPAXS S.p.A. and Banca Interprovinciale S.p.A., and has been listed on Borsa Italiana since March 2019.

YTD Price Performance: -4.00%

Technical Sentiment Signal: Strong Buy

Current Market Cap: €263.8M

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