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Research Update: Italy-Based Banca Popolare dell'Alto Adige Long-Term Rating Lowered To 'BBB' Following Sovereign Action; Outlook Neg Feb 12 Product Image

Research Update: Italy-Based Banca Popolare dell'Alto Adige Long-Term Rating Lowered To 'BBB' Following Sovereign Action; Outlook Neg Feb 12

  • Published: February 2012
  • Standard & Poors

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) for Italy to group '4' from group '3', and our economic risk and industry risk scores for Italy to '4' from '3'. We are lowering our long-term rating on Italy-based Banca Popolare dell'Alto Adige (BPAA) to 'BBB' from 'BBB+', and removing it from CreditWatch negative. The negative outlook reflects our view that we could lower the ratings if the bank's capital were to deteriorate more than we currently expect, or if the domestic economy...

Companies mentioned in this report are: Banca Popolare dell'Alto Adige
Action: Affirmed
Action: Downgraded
Action: Outlook: Negative
Action: Removed From CreditWatch

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Banca Popolare dell'Alto Adige

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