(Alliance News) - Banca Popolare di Sondrio Spa reported Wednesday that Scope Ratings has confirmed the credit institution's investment grade ratings.

Scope confirmed the issuer rating of 'BBB,' with outlook left unchanged at Stable.

In its analysis, the agency stresses the strong operating performance recently recorded by the bank, while appreciating its ability to have remained profitable in all phases of the economic cycle, with profitability in the last decade higher than that achieved, on average, by Italian banks.

Scope also gave a positive assessment of its solid asset quality and ample capital buffer against regulatory requirements.

Pop di Sondrio's stock closed Wednesday up 5.7 percent at EUR7.03 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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