Mainly Negative Rating Actions Taken On 37 Italian Financial Institutions On Sovereign Downgrade And BICRA Change Feb 12
- Language: English
- Published: February 2012
- Region: Italy
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 to '4' from '3'. We are therefore lowering our long-term rating on Agos-Ducato SpA to 'BBB' from 'BBB+' and affirming our 'A-2' short-term rating. We are removing the ratings from CreditWatch negative. The negative outlook on our rating on Agos-Ducato reflects the possibility that we could lower the rating if we see further weakening in the domestic economy...
Companies mentioned in this report are: Agos-Ducato SpA
Action: Outlook: Negative
Action: Removed From CreditWatch
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