Press Releases
BANK’S RATINGS UP BY 1 NOTCH THANKS TO STRONG CAPITAL POSITION AND CAPACITY TO GENERATE PROFITS
Siena, 15 May 2024 – Banca Monte dei Paschi di Siena (“the Bank” or “MPS”) announces that the rating agency Moody's Ratings ("Moody's" or the "Agency") has upgraded the Bank's ratings by one notch, including the standalone Baseline Credit Assessment ("BCA") to "ba2" from "ba3", the longterm deposit rating to "Baa3" from "Ba1" and the long-term senior unsecured debt rating to "Ba2" from "Ba3".
The upgrade by Moody's reflects the improvement in the Bank's creditworthiness in recent years, as well as the strengthening of its solvency and the rebuilt capacity to generate profits, also thanks to the EUR 2.5 billion capital increase and the favourable interest rate environment.
The improved ratings also take into account the Bank’s higher capitalisation levels, boosted by 2023 profits, with a fully loaded CET1 ratio of 18.2% as of 31 March 2024, well above the Business Plan 2026 target.
The outlook on MPS's long-term deposit and senior unsecured debt ratings was changed to stable.
The following are Moody's key ratings of the Bank:
| Rating | Da: | A: |
| BCA (rating standalone) | ba3 | ba2 |
| Long-term deposit | Ba1 | Baa3 |
| Long-term senior unsecured debt | Ba3 | Ba2 |
| Junior senior unsecured debt | Ba3 | Ba2 |
| Subordinated debt | B1 | Ba3 |
The full text of the Moody's press release is available at www.moodys.com.
