Fitch Ratings raised UnipolSai Assicurazioni’s Insurer Financial Strength Rating (IFSR) to “BBB +” from “BBB”, or two notches above the Italy rating (BBB- / stable outlook). Consequently, the Long-Term Issuer Default Rating (IDR) assigned to Unipol Group has also passed to “BBB” from “BBB-” and the ratings of the Unipol Group’s debt issues have all improved by one notch: Unipol Gruppo switched to “BBB-“; the subordinated loans of UnipolSai Assicurazioni went to “BB +”; and UnipolSai Assicurazioni’s RT1 perpetual subordinated loan was transferred to “BB-”. At the same time, the rating agency kept the outlook of the aforementioned ratings at “stable”.
In its decision, the note reads, Fitch acknowledged the validity of the strategy and the results achieved by the group, in particular with regard to the reduction of the concentration risk in the
investment, and the consequent strengthening of assets in 2020.