INTESA SANPAOLO: FITCH LOWERS THE BANK'S LONG-TERM AND VIABILITY RATINGS FOLLOWING ITALY'S DOWNGRADE.
SHORT-TERM RATING CONFIRMED
Turin - Milan, March 18th 2013 - Intesa Sanpaolo communicates that Fitch lowered the Bank’s long-term rating to ‘BBB+’ from ‘A-’, with negative outlook, and its Viability Rating to ‘bbb+’ from ‘a-’. The short-term rating was confirmed at ‘F2’.
The rating actions follow the downgrade of Italy’s long-term rating to ‘BBB+’ from ‘A-’ with negative outlook announced by Fitch on March 8th 2013.
Intesa Sanpaolo’s long- and short-term ratings are now at the same level as, and capped at, the Italian sovereign ratings.
Last updated 18 March 2013 at 18:34