Poste Italiane’s strategic importance to Italy, diversified business structure and solid financial profile support the rating. The Outlook revision of Italy’s sovereign rating, to which Poste Italiane’s ratings are aligned, drives the Outlook change.

The periodic review has resulted in no rating action.

Poste Italiane’s strategic importance to Italy, diversified business structure and solid financial profile are strengths. Elevated exposure to fluctuations in the domestic economy and financial market is the key challenge.

The rating is based on the BBB+/Stable issuer rating of Poste Italiane S.p.A. and deep subordination and hybrid characteristics of the instrument.

Poste Italiane's strategic importance to Italy, diversified business structure and solid financial profile are strengths. Elevated exposure to fluctuations in the domestic economy and financial market is the key challenge.