Creditreform Rating has affirmed the rating of Intesa Sanpaolo Bank Luxembourg S.A. at BBB-. The outlook is stable. Moreover, Creditreform Rating has also affirmed the rating of the Preferred Senior Unsecured Debt at BBB- and the rating of Tier 2 Capital at B+. However, Creditreform Rating has withdrawn the rating of the bank´s Non-Preferred Senior Unsecured Debt as well as the rating of Additional Tier 1 Capital. For more details regarding the rating, we refer to our rating report on our homepage.
Creditreform Rating AG has revised its rating methodology for the rating of banks (Bank Ratings). Henceforth, only the revised version of the rating methodology ("Version 3.0") will be applied with the end of the consultation process. In addition, Creditreform Rating AG introduced the new sub-methodology Institutional Protection Scheme Banks. Hence, all current ratings of bank capital and unsecured bank instruments will be reviewed as part of our current monitoring and receive therefore the rating supplement "watch". Our revised rating methodologies can be found at www.creditreform-rating.de.
Creditreform Rating has lowered the rating of Intesa Sanpaolo Bank Luxembourg S.A. from BBB to BBB-. The outlook is stable. In addition, Creditreform Rating has lowered the rating of Additional Tier 1 Capital from B+ to B, the rating of Tier 2 Capital from BB- to B+, the rating of Preferred Senior Unsecured Debt from BBB to BBB-. The rating of Non-Preferred Senior Unsecured Debt was set to BB+. For more details regarding the rating, we refer to our rating report on our homepage.