PRESS RELEASE

FITCH CONFIRMED ALL CREDEM'S RATINGS

Today Fitch Ratings affirmed Credem's Long-Term Issuer Default Rating (IDR) at 'BBB' and Viability Rating (VR) at 'bbb'. The Outlook on the Long-Term IDR is Stable.

The affirmation of ratings reflected Fitch's view that Credem's solid capitalisation is able to absorb the pressures on asset quality and profitability stemming from weaker macroeconomic prospects, including if the domestic economy deteriorates more than Fitch currently expects.

The rating agency stated that Credem's well diversified business model and stronger-than- average asset quality has resulted in more stable earnings generation than most peers' over the past decade. The ratings also consider the conservative credit policy and prudent capital management.

In details, Credem Group's ratings are the following:

  • Long Term IDR: affirmed at 'BBB', Outlook Stable
  • Short Term IDR: affirmed at 'F3'
  • Viability Rating: affirmed at 'bbb'
  • Long-TermDeposit Rating: affirmed at 'BBB+'
  • Short-TermDeposit Rating: affirmed at 'F2'
  • Derivative Counterparty Rating: affirmed at 'BBB(dcr)'
  • Senior Preferred Debt: affirmed at 'BBB'
  • Senior non Preferred Debt: affirmed at 'BBB-'

The original Fitch Ratings' press release is available on the agency's website.

Reggio Emilia, October 24, 2022

CREDITO EMILIANO SPA

(Chairman)

Lucio Igino Zanon di Valgiurata

CONTACTS

Media relations Credem

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� +39.0522.582075 - +39.02.77426202

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�www.credem.it

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CREDEM - Credito Emiliano S.p.A. published this content on 24 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2022 17:01:10 UTC.