BANCA IFIS S.P.A. Fitch Ratings-Milan/London-12 October 2017: Fitch Ratings has assigned Banca IFIS's (IFIS, BB+/Stable/bb+) EUR400 million subordinated Tier 2 issue (ISIN: XS1700435453) a final rating of 'BB'.
The final rating is line with the expected rating, which Fitch assigned to the notes on 6 October 2017 (see 'Fitch Rates IFIS's Subordinated Tier 2 Notes 'BB(EXP)'). The notes have been issued under IFIS's EUR5 billion EMTN programme and qualify as Basel III-compliant Tier 2 debt. They
contain contractual loss absorption features that will be triggered only at the point of non-viability of the bank and no equity conversion feature.
The terms of the notes include a reference to noteholders consenting to be bound by subordination provisions established by Italian law.
More information in the attached press release.
ArchiveBanca Ifis S.p.A. published this content on 12 October 2017 and is solely responsible for the information contained herein.
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Original documenthttps://www.bancaifis.it/en/non-categorizzato/fitch-rates-banca-ifiss-eur400m-subordinated-tier-2-notes-bb/
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