The rating agency Moody’s Investors Service, following the acquisition of 92.5% of the illimity’s share capital by Banca Ifis, has upgraded the Bank’s ratings, bringing them in line with those of Banca Ifis. In particular, the long-term and short-term deposit ratings are now set at 'Baa2' and 'Prime-2', in the investment grade area. The long-term senior debt and issuer ratings both stand at 'Baa3' with stable outlook
The list of the main ratings assigned by Moody’s is reported below:
The rating agency Fitch, following the acquisition of 92.5% of the illimity’s share capital by Banca Ifis, has upgraded by 1 notch both the Bank's Long-Term Issuer Default Rating (IDR) and long-term senior preferred debt rating to "BB", as well as the long-term deposits rating to "BB+". In addition, Fitch revoked the Government Support Rating (GSR) and assigned the Bank a Shareholder Support Rating (SSR) of "bb", to reflect the support of the Parent Company Banca Ifis.
In December 2020, illimity completed its first bond issue: placed a senior preferred bond with a 3-year maturity for a total amount of 300 million euro.
In July 2021, the Bank placed its first subordinated class 2 (Tier 2) bond with a 10-year maturity, and a 5-year call option, for a total amount of 200 million euro.
In December 2022, illimity completed its second bond issuance: placed a senior preferred bond with a 3-year maturity for a total amount of 300 million euro.
In June 2023, the Bank completed its first retail bond issuance: placed a senior preferred bond with a 3-year maturity for a total amount of 61 million euro.
In May 2024, the Bank completed its third bond issuance: placed a senior preferred bond with a 3-year maturity for a total amount of 300 million euro.
In September 2019, illimity entered the institutional bond market through the EMTN - Euro Medium Term Notes Programme on the Irish Stock Exchange (ISE). Currently, the Stock Exchange of the Programme is the Luxembourg Stock Exchange (LuxSE).
The documents relating to the Programme are available in the sections below.
