- Published: January 2011
- Region: Italy
Outlook on Italy-Based Mediobanca SpA Revised to Negative; Ratings Affirmed Nov 02
- Published: November 2002
- Standard & Poors
MILAN (Standard & Poor's) Nov. 14, 2002--Standard & Poor's Ratings Services said today that it revised its outlook on Italy-based bank Mediobanca SpA to negative from stable. The action reflects Mediobanca's higher risk appetite in its investment banking operations in recent months, during which the bank has been experiencing some reduction in its financial flexibility, linked to declining latent gains on its vast equity portfolio. At the same time, Standard & Poor's affirmed its 'AA-' long-term and 'A-1+' short-term counterparty credit ratings on the bank. The ratings affirmation reflects the bank's sound business and financial profiles. Mediobanca continues to benefit from a strong domestic franchise in the Italian market, where its core businesses include lending, investment banking, and direct equity...
Companies mentioned in this report are:
- Mediobanca SpA
Action: Outlook Revised
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- Mediobanca SpA