Rating

^* Moody’s (1 October 2025): the rating agency  has upgraded the Bank’s long-term deposit rating to “Baa1” (from “Baa2”) and its senior unsecured debt rating to the investment grade level of “Baa3” (from “Ba1”). The Baseline Credit Assessment (“BCA”) has been confirmed at “ba1”. The outlook has been confirmed as positive.

^** Fitch (15 June 2026): the rating agency placed the bank’s long-term issuer default rating and debt ratings on Rating Watch Positive following the Intesa Sanpaolo S.p.A’s announcement that it had launched a voluntary public tender and exchange offer on all of MPS's ordinary shares.

^*** Morningstar DBRS (2 October 2025): the rating ageny has upgraded the Bank’s ratings. Among these, the Long-Term Issuer rating and the Long-Term Senior Debt rating have been raised to “BBB” from “BBB (low)”, while the Long-Term Deposit rating has been upgraded to “BBB (high)”. The agency has also improved several short-term ratings, including the Short-Term Issuer rating, which is now “R-2 (high)” from “R-2 (middle)”. The outlook on the long-term ratings remains positive.

^**** Long-Term Senior Unsecured Debt Rating

***** Outlook on the long-term deposit and senior unsecured debt ratings

****** Rating Watch Positive on Short Term Issuer Default Rating