Moody's upgrades Banca Carige following the capital increase and the disposal of problem loans, concluding review
Rating Action: Moody's upgrades Banca Carige following the capital increase and the disposal of problem loans, concluding review. Global Credit Research- 24 Dec 2019. Baseline credit assessment upgraded to caa1 from ca, outlook on long-term ratings is stable.Banca Carige is engaged as a banking, financial, insurance and social welfare group. Co.'s group includes Banca Carige Italia, which collects all Co.'s agencies outside Liguria and supporting the project of network development; Cassa di Risparmio di Savona, which is engaged as a savings bank; Cassa di Risparmio di Carrara, the financial backer; Banca del Monte di Lucca; Banca Cesare Ponti, which specialized in private banking and asset management; the insurance companies Carige Assicurazioni (accident insurance) and Carige Vita Nuova (life insurance); and Creditis Servizi Finanziari S.p.A., which specializes in issuing personal loans, salary-deducted loans and revolving credit lines.
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