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Research Update: Ratings On 11 Italian LRGs Lowered To 'A'; City of Turin Outlook To Neg On Italy Downgrade; All Outlooks Are Negative Sep 11

  • ID: 1924638
  • September 2011
  • Region: Italy
  • Standard & Poors

FEATURED COMPANIES

  • Bologna (City of)
  • Genoa (City of)
  • Liguria (Region of)
  • Mantova (Province of)
  • Marches (Region of)
  • Milan (City of)
  • MORE

Abstract
On Sept. 19, 2011, Standard & Poor's lowered its unsolicited long- and short-term sovereign credit ratings on the Republic of Italy to 'A/A-1' from 'A+/A-1+' and maintained the negative outlook. Under our methodology applicable to local and regional governments (LRGs) and their related sovereigns, we cap the ratings on LRGs based on the long-term rating on the related sovereign. Consequently, we are lowering our long-term ratings on 11 Italian LRGs to 'A' from 'A+' and maintaining our negative outlooks on these LRGs (see Ratings List below). We are revising the outlook to negative from stable and affirming the 'A' long-term rating on the City of Turin. We are also lowering our long-term issue ratings on the bonds issued by the...

Companies mentioned in this report are:
- Bologna (City of)
- Milan (City of)
- Turin (City of)
- Genoa (City of)
- Emilia-Romagna (Region of)
- Marches (Region of)
- Friuli-Venezia Giulia (Autonomous Region of)
- Rome (Province of)
- Sicily (Region of)
- Liguria (Region of)
- Mantova (Province of)
- Umbria (Region of)

Action: Downgraded
Action: Outlook: Negative

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Note: Product cover images may vary from those shown

- Bologna (City of)
- Milan (City of)
- Turin (City of)
- Genoa (City of)
- Emilia-Romagna (Region of)
- Marches (Region of)
- Friuli-Venezia Giulia (Autonomous Region of)
- Rome (Province of)
- Sicily (Region of)
- Liguria (Region of)
- Mantova (Province of)
- Umbria (Region of)

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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