Research Update: Outlook On Four Italian Banks Revised To Negative Following A Similar Rating Action On The Sovereign May 11
Standard & Poors, May 2011
Abstract
Following our revision to negative of our outlook on the Republic of Italy on May 20, 2011, reflecting Italy's persistently high debt ratio, we are revising to negative our outlooks on four Italian banks and three related core subsidiaries that we rate at the same level as the sovereign or above it. At the same time, we are affirming our ratings on the four banks: Mediobanca, Banca Nazionale del Lavoro, Findomestic, and Intesa Sanpaolo. The negative outlook on these banks reflects the fact that we would lower their ratings in the case of a sovereign downgrade, given their predominantly domestic business profiles. Our outlooks on financial institutions Cariparma and Istituto per il Credito Sportivo remain stable. On May 24, 2011,...
Companies mentioned in this report are:
- Mediobanca SpA
- Intesa Sanpaolo SpA
- Cassa di Risparmio in Bologna SpA
- Findomestic Banca SpA
- Istituto per il Credito Sportivo
- Banca Nazionale del Lavoro SpA
- Banca IMI SpA
- Banca Infrastrutture Innovazione e Sviluppo SpA (BIIS)
- Cassa di Risparmio di Parma e Piacenza SpA
Action: Affirmed
Action: Outlook: Negative
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Mediobanca SpA
- Intesa Sanpaolo SpA
- Cassa di Risparmio in Bologna SpA
- Findomestic Banca SpA
- Istituto per il Credito Sportivo
- Banca Nazionale del Lavoro SpA
- Banca IMI SpA
- Banca Infrastrutture Innovazione e Sviluppo SpA (BIIS)
- Cassa di Risparmio di Parma e Piacenza SpA
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
