Research Update: Dexia Crediop Long-Term Rating Lowered To 'BB-' On Italy BICRA Change, 'B' Short-Term Rating Affirmed; Outlook Negative Feb 12

Standard & Poors, February 2012

Abstract
On Jan. 13, 2012, Standard & Poor's lowered its unsolicited long- and short-term sovereign credit ratings on the Republic of Italy to 'BBB+/A-2' from 'A/A-1', assigned a negative outlook, and removed the ratings from CreditWatch negative. We have revised our Banking Industry Country Risk Assessment (BICRA) on Italy to group '4' from group '3', and our economic risk and industry risk scores on Italy to '4' from '3'. We are lowering our long-term ratings on Italy-based Dexia Crediop SpA to 'BB-', affirming the 'B' short-term ratings and removing all ratings from CreditWatch negative. The negative outlook reflects the possibility that we could lower the ratings on Dexia Crediop if we lower our ratings on the Republic of Italy or we...

Companies mentioned in this report are: Dexia Crediop SpA,Crediop Overseas Bank Ltd.
Action: Affirmed
Action: Downgraded
Action: Outlook: Negative
Action: Removed From CreditWatch

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.

Dexia Crediop SpA,Crediop Overseas Bank Ltd.

Customers who bought this item also bought

• Aerospace & Defense in Italy
• Italy Defence and Security Report Q3 2012
• Revenue Opportunities and Stakeholder Mapping - Italy: Air Platforms Market
• Defense Spending in Italy
• Italy Defence and Security Report Q4 2012
• Italy Defence and Security Report Q2 2013
• Defense Expenditure in Italy to 2017: Market Review
• Italy Defence and Security Report Q1 2013
• Counter IED Market in the Italy to 2022: Market Brief
• Military Satellites Market in the Italy to 2022: Market Brief