Rating Actions Taken On 32 Italian Financial Institutions On Increased Credit Risk In Italy's Economy Aug 12
- Language: English
- Published: August 2012
- Region: Italy
Italian banks are slowly climbing out from one of the deepest recessions in the past half century, when GDP declined a cumulative 6% in 2008-2009. However, they are proceeding over difficult and new terrain, featuring persistently slow domestic economic growth, much higher prices for wholesale funding because of sovereign credit worries in the eurozone, and stricter capital rules in the run-up to Basel III. (Listen to the related podcast titled, "Why Italian Banks Face A Tricky Recovery," dated April 18, 2011.) Capital has not been a major factor supporting the ratings on most banks in Italy, and has been a weakness for a few midsize and large banks. We estimate that our risk-adjusted capital (RAC) ratio for the Italian banks...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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