Fitch: Intesa Sanpaolo notes BBB

Fitch Ratings said it assigned Italy's Intesa Sanpaolo Vita's €500 million 5.35% subordinated notes due September 2018 a BBB rating.

The subordinated notes have a five-year term and will pay a fixed rate of interest. The notes have no deferral features (i.e. a non-payment of a coupon would constitute a default), and their rating is therefore one notch below Intesa Sanpaolo's issuer default rating, in accordance with Fitch's notching methodology. The issuance has received regulatory approval.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.