...Leading Wealth Manager in Italy: Banca Mediolanum S.p.A.'s ratings reflect its well-established franchise in Italy as a top-three wealth and asset manager by size of network of financial advisors and net inflows in 1H26. The group's business model benefits from a growing client base, supporting resilient net new inflows and structurally robust earnings. The ratings also consider the bank's sound liquidity and a well-controlled appetite for credit risks, which mitigate its high concentration on Italian sovereign debt. Mediolanum's ratings are therefore constrained by Italy's 'BBB+' sovereign rating. Stable and Resilient Business Model: Mediolanum is an Italian wealth and asset manager with a well-developed franchise in the affluent segment, totalling about EUR168 billion administered and managed customer assets, including deposits and life insurance savings. Its established insurance business contributes to its consistently strong profitability. Mediolanum has consistently met or surpassed...
