Fitch affirms Credem

Fitch Ratings said it affirmed Credito Emiliano SpA's (Credem) long-term issuer default rating at BBB and viability rating at bbb.

The outlook is stable.

Fitch said the ratings reflect Credem's diversified (albeit geographically concentrated in Italy) and stable business model, which to date has resulted in more resilient profitability and healthier asset quality than its Italian peers.

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