BREAKING NEWS – 22.07.2024
In the press release dated July 16th, 2024, Integrated System Credit Consulting Fintech SpA (“the Company” or “ISCC Fintech”), a company active in Italy in the purchase of so-called granular portfolios of non-performing loans (otherwise known as NPLs) from financial institutions, regulated companies providing goods or services (telecommunications, gas, electricity), special purpose vehicles, and financial companies pursuant to Article 106 of the Consolidated Banking Act, as well as in the management and recovery of such loans (so-called “Credit Management”), announces the finalization of the acquisition of a portfolio of unsecured individual NPLs with a nominal value of approximately €300,00 million. This portfolio, originating from the secondary and financial markets, comprises 7,229 positions, mainly derived from banking and financial contracts.
Considering the press release, we confirm our recommendation: target price €7.05, rating BUY, and risk MEDIUM.