MILAN (S&P Global Ratings) July 2, 2025--S&P Global Ratings today assigned its 'BBB-' issue rating to Banca Sella Holding SpA?s €300 million five-year senior unsecured preferred notes to be issued under its €1.5 billion euro medium-term note program. According to our criteria, the issue rating is in line with our long-term issuer credit rating on Banca Sella Holding. General Criteria: Hybrid Capital: Methodology And Assumptions , Feb. 10, 2025 Criteria Financial Institutions General: Risk-Adjusted Capital Framework Methodology , April 30, 2024 Criteria Financial Institutions General: Financial Institutions Rating Methodology , Dec. 9, 2021 Criteria Financial Institutions Banks: Banking Industry Country Risk Assessment Methodology And Assumptions , Dec. 9, 2021 General Criteria: Environmental, Social, And Governance Principles In Credit