(Alliance News) - Monnalisa Spa announced Monday that the rating agency Standard Ethics1 has confirmed its EE- 'adequate' - or investment grade - rating.

"The ESG rating by Standard Ethics had been assigned to the Monnalisa Group for the first time in 2022, confirming the Group's growth path in ESG," the company recalled in a note.

The Standard Ethics agency also upgraded the medium- to long-term expectation to EE+ over a 4-5 year time frame.

"Underlying the improvement achieved is the work carried out during 2022 by the Group mainly on sustainability governance and sustainable development strategies, aligned with most of the voluntary guidelines of the United Nations, the OECD and the European Union, in parallel with extra-financial reporting drawn up according to international standards adhering to ESG practices and policies that are constantly evolving with respect to evolving needs in terms of sustainability."

Monnalisa closed in the green by 3.6 percent at EUR2.86 per share.

By Claudia Cavaliere, Alliance News reporter

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