INTESA SANPAOLO: MOODY’S LOWERS THE BANK’S LONG-TERM RATING FOLLOWING SIMILAR ACTION ON ITALY.
BANK FINANCIAL STRENGTH RATING AND SHORT-TERM RATING CONFIRMED
Torino, Milano, July 17th 2012 – Intesa Sanpaolo announces that Moody’s has downgraded the Bank’s long-term rating to ‘Baa2’ from ‘A3’, following a similar action on Italy. The Bank’s ‘P-2’ short-term rating and its ‘C-’ standalone bank financial strength rating (BFSR) have been confirmed. The outlook on the BFSR and the long-term rating is negative, in line with the sovereign.
Intesa Sanpaolo’s long- and short term ratings are now at the same level as, and capped at, the Italian sovereign ratings.
Last updated 17 July 2012 at 08:48