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Italy-Based Banks 'AA-' L-T Ratings Remain Unchanged Despite Republic of Italy Downgrade Oct 06 Product Image

Italy-Based Banks 'AA-' L-T Ratings Remain Unchanged Despite Republic of Italy Downgrade Oct 06

  • ID: 1871555
  • October 2006
  • Region: Italy
  • Standard & Poors

FEATURED COMPANIES

  • Banca IMI SpA (former)
  • Banca Fideuram
  • Banca OPI SpA
  • Dexia Crediop SpA
  • Mediobanca SpA
  • Sanpaolo IMI SpA
  • MORE

Abstract
MILAN (Standard & Poor's) Oct. 19, 2006--Standard & Poor's Ratings Services said today that its ratings on Italy-based banks with a 'AA-' long-term counterparty credit rating remain unchanged despite its one-notch downgrade today of the Republic of Italy to A+/Stable/A-1+. These banks are therefore now rated higher than the sovereign. The only Italy-based bank downgraded as a result of the sovereign action was Istituto per il Credito Sportivo (A/Stable/A-1), a public-policy-based bank specializing in the financing of Italian sports facilities, where the long-term rating continues to be one notch below that on Italy. This scenario was laid out in our Sept. 25, 2006, article, "Credit FAQ: Potential For Rating Banks Higher Than The Sovereign In EMU Member States." The Italian...

Companies mentioned in this report are:
- Banca Nazionale del Lavoro SpA (former)
- Sanpaolo IMI SpA
- Dexia Crediop SpA
- Mediobanca SpA
- Banca Fideuram
- Cassa di Risparmio in Bologna SpA
- Banca IMI SpA (former)
- Banca OPI SpA
- Istituto per il Credito Sportivo

Action: General Comment

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- Banca Nazionale del Lavoro SpA (former)
- Sanpaolo IMI SpA
- Dexia Crediop SpA
- Mediobanca SpA
- Banca Fideuram
- Cassa di Risparmio in Bologna SpA
- Banca IMI SpA (former)
- Banca OPI SpA
- Istituto per il Credito Sportivo

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