Banca Farmafactoring eyes ‘better access’ to markets after first credit rating

By Tyler Davies
09 Oct 2019

Banca Farmafactoring, an Italian financial institution with a specialism in factoring services, is preparing its first rated offering of debt in the capital markets after spying an opportunity to take advantage of ‘favourable’ conditions for issuance.

Moody’s gave the bank a long-term issuer rating of Ba1 on October 2, citing its “sound asset risk, strong profitability, modest capitalisation, high reliance on wholesale funding and high asset encumbrance”.

With no desire to waste any time, the issuer mandated Banca IMI, Citi and

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