Morningstar DBRS Discontinues Banca Akros SpA's Credit Ratings

DBRS Ratings GmbH (Morningstar DBRS) discontinued Banca Akros SpA's (or the Bank) credit ratings at the request of the issuer. This takes into account the completion of the partial spin-off of Banca Akros in favor of its parent company Banco BPM SpA (or the Group) as part of the process of rationalization of Banco BPM's organizational structure. The last credit rating action on Banca Akros SpA was taken on April 18, 2024 when Morningstar DBRS confirmed the Bank's all credit ratings with Positive trends, except for the Short and Long-Term Deposits credit ratings, which were confirmed with Stable trends.

Notes:
The principal methodology is the Global Methodology for Rating Banks and Banking Organisations (04 June 2024) https://dbrs.morningstar.com/research/433881 In addition Morningstar DBRS uses the Morningstar DBRS Criteria: Approach to Environmental, Social, and Governance Factors in Credit Ratings (13 August 2024) https://dbrs.morningstar.com/research/437781 in its consideration of ESG factors.

The credit rating methodologies used in the analysis of this transaction can be found at: https://dbrs.morningstar.com/about/methodologies.

The sources of information used for these credit ratings include Morningstar Inc. and company documents. Morningstar DBRS considers the information available to it for the purposes of providing these credit ratings to be of satisfactory quality.

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

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

For further information on Morningstar DBRS historical default rates published by the European Securities and Markets Authority (ESMA) in a central repository, see: https://registers.esma.europa.eu/cerep-publication. For further information on Morningstar DBRS historical default rates published by the Financial Conduct Authority (FCA) in a central repository, see https://data.fca.org.uk/#/ceres/craStats.

These credit ratings are endorsed by DBRS Ratings Limited for use in the United Kingdom.

Lead Analyst: Nicola De Caro, Senior Vice President, Sector Lead
Rating Committee Chair: Marcos Alvarez, Managing Director
Initial Rating Date: September 08, 2017
Last Rating Date: April 18, 2024

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