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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
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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

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 READ MORE >

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- 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
3 of 3
Note: Product cover images may vary from those shown

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