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Article: MOODY'S CONCLUDES REVIEWS ON 5 ITALIAN BANKS
- Article from:
- Info-Prod Research (Middle East)
- Article date:
- September 9, 2009
CopyrightCopyright 2009 Info-Prod Research (Middle East). Provided by ProQuest LLC. (Hide copyright information)
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Moody's Investors Service today concluded itsrating review for 5
Italian banks. These rating reviews had beeninitiated on June 18th,
at which time the ratings of 21 Italian banks hadbeen placed on
review for possible downgrade. With the conclusion ofthese reviews
all the rating actions initiated on June 18th have now
beenconcluded. The outcome of these rating actions was varied. One
institution,UniCredit Leasing, saw its issuer rating confirmed. The
remaining bankssaw downgrades of the Bank Financial Strength Ratings
(BFSR) whichresulted in their Baseline Credit Assessments (BCA)
lowered by two tothree notches. However all five institutions are
subsidiaries of largerbanking groups, and as a ...