Moody's reviews Italian banks for downgrade

Ross J Burland FXStreet

Moody's Investors Service ("Moody's") today took rating actions on 12 Italian banking groups:

Rating actions follow the review for downgrade of Italy's Baa2 government bond rating.

The rating agency placed on review for downgrade the long-term deposit ratings of six banks and the issuer and/or senior unsecured debt ratings of four banks, as well as the counterparty risk assessment (CRA) of nine institutions.

The review for possible downgrade was prompted by the corresponding action on Italy's Baa2 government bond rating.

The following banks are affected by today's rating actions:

UniCredit S.p.A., Intesa Sanpaolo S.p.A., Banca IMI S.p.A., Cassa Depositi e Prestiti S.p.A., Mediobanca S.p.A., FCA Bank S.p.A., Banca Nazionale Del Lavoro S.p.A., Credito Emiliano S.p.A., Credit Agricole Cariparma S.p.A., Cassa Centrale Raiffeisen S.p.A., Invitalia S.p.A. and Banca del Mezzogiorno - MCC S.p.A.

The ratings, outlooks and assessments of other Moody's rated Italian banks are unaffected by today's rating action.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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