Article: MOODY'S CONCLUDES REVIEWS ON 5 ITALIAN BANKS

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 ...

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