On January 8th, Banca Ifis announced a voluntary public purchase and exchange offer for Illimity Bank, followed by the planned merger. Following the announcement, Moody’s confirmed all ratings of Banca Ifis, maintaining a stable outlook. However, the agency highlighted significant risks for the institution, which has never undertaken operations of this scale in its history. Illimity’s assets would represent 39% of the combined entity. Meanwhile, Illimity’s ratings remain under review for a potential upgrade.
