Arab Today, arab today sp lowers ratings on 15 italian banks
Last Updated : GMT 11:21:26
Arab Today, arab today
Arab Today, arab today

S&P lowers ratings on 15 Italian banks

Arab Today, arab today

Arab Today, arab today S&P lowers ratings on 15 Italian banks

Washington - AFP

Standard & Poor\'s on Friday cut the ratings on 15 Italian banks, but left ratings unchanged for market leaders UniCredit, Intesa Sanpaolo and Mediobanca. The agency said the ratings cuts -- which included Unione di Banche Italiane, better known as UBI -- reflected \"increased credit risk for the Italian economy and its banks.\" \"With Italy facing a potentially deeper and more prolonged recession than we had originally anticipated, we think Italian banks\' vulnerability to credit risk in the economy is rising,\" S&P said. The downgraded banks also included Banca Popolare dell\'Emilia Romagna and Banca Popolare di Vicenza.

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