DBRS Morningstar Discontinues Ratings on Intesa’s State Guaranteed Notes Following Repayment

DBRS Ratings GmbH (DBRS Morningstar) discontinued Intesa Sanpaolo SpA’s ratings on the State Guaranteed Notes (ISINs: IT0005238859, IT0005239535), following their repayment.

DBRS Morningstar notes that this press release was amended on May 28, 2020, to incorporate the links to the Global Methodology for Rating Banks and Banking Organisations (11 June 2019) and to the DBRS Morningstar Criteria: Guarantees and Other Forms of Support (22 January 2020).

Notes:
All figures are in EUR unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organisations (June 2019): https://www.dbrsmorningstar.com/research/346375/global-methodology-for-rating-banks-and-banking-organisations.
Other applicable methodologies include the DBRS Morningstar Criteria: Guarantees and Other Forms of Support (January 2020): https://www.dbrsmorningstar.com/research/355780/dbrs-morningstar-criteria-guarantees-and-other-forms-of-support.

The sources of information used for this rating include Company Documents and the Ministry of Economy and Finance (MEF). DBRS Morningstar considers the information available to it for the purposes of providing this rating to be of satisfactory quality.

DBRS Morningstar does not audit the information it receives in connection with the rating process, and it does not and cannot independently verify that information in every instance.

Generally, the conditions that lead to the assignment of a Negative or Positive trend are resolved within a 12-month period. DBRS Morningstar's outlooks and ratings are under regular surveillance.

For further information on DBRS Morningstar historical default rates published by the European Securities and Markets Authority (ESMA) in a central repository, see: http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

Ratings assigned by DBRS Ratings GmbH are subject to EU and U.S. regulations only.

Lead Analyst: Nicola De Caro, Senior Vice President – Global FIG
Rating Committee Chair: Ross Abercromby, Managing Director – Global FIG
Initial Rating Date: September 13, 2013
Last Rating Date: November 20, 2019

DBRS Ratings GmbH
Neue Mainzer Straße 75
Tel. +49 (69) 8088 3500
60311 Frankfurt am Main Deutschland
Geschäftsführer: Detlef Scholz
Amtsgericht Frankfurt am Main, HRB 110259

For more information on this credit or on this industry, visit www.dbrsmorningstar.com.