Strong market position in Italy for the Banche di Credito Cooperativo (BCC) cooperative banking network. Good liquidity and capitalization of the BCC system. Sound support mechanism that strongly limits BCC depositors' losses. Iccrea Banca's core institutional role for the BCC system. Weakening profitability among BCCs. BCCs' vulnerability to the weak domestic economy due to the composition of their loan portfolios. Unseasoned loan portfolios and sector loan concentrations at BCCs. BCCs often have an unsophisticated risk culture. The ratings on Italy-based Iccrea Banca SpA primarily reflect its status as the central bank of the Banche di Credito Cooperativo (BCC), a large and cohesive network of small Italian cooperative banks. The BCCs' aggregate creditworthiness leverages a strong market position in Italy and
