Mission creep? Italy’s bad loan manager irks rivals

Investing.com | Oct 26, 2020 at 1:00 AM
  • As the coronavirus rips through Italy’s already fragile economy, one sector should be thriving – the market for soured debt.
  • AMCO, a state-backed bad loan manager, has gone from bit player to one of the leading forces in Italy’s 330 billion euro ($390 billion) bad debt market in the space of three years with over 33 billion euros in assets under management.
  • The pricing gap between buyers and sellers held back Italy’s bad loan market for years, until the state closed it through a guarantee scheme that leaves taxpayers on the hook for part of the potential losses.