Moody’s acts on Italian banks

Moody’s Investors Service said it took rating actions on several Italian banks citing the damaging effect of the coronavirus on Italy.

Cassa Centrale Raiffeisen SpA.: the issuer and senior unsecured ratings at Baa2 were placed on review for downgrade. All other ratings and assessments, currently constrained by the rating on the Italian government, were affirmed, Moody’s said.

Cassa Centrale Banca SpA: the long-term issuer rating of Ba1 was placed on review for downgrade.

Intesa Sanpaolo SpA: the outlooks on the bank's and Banca IMI SpA's long-term senior unsecured debt ratings were revised to negative from stable. The senior debt rating of Baa1 was affirmed.

Mediocredito Trentino-Alto Adige SpA: the outlook on the senior unsecured debt ratings of Ba1 was changed to negative from stable. All assessments and ratings were affirmed.

Credito Valtellinese SpA: the outlook on the senior unsecured debt rating of B2 was changed to negative from stable. All assessments and ratings were affirmed.

Banco BPM SpA: The bank's senior unsecured ratings of Ba2 were affirmed.

BPER Banca SpA: the outlook on the senior unsecured ratings was changed to negative from stable. The bank's issuer and senior unsecured ratings of Ba3 were affirmed.

Banca Monte dei Paschi di Siena SpA: the outlook on the senior unsecured ratings was changed to developing from positive, reflecting both downside risks and upward pressure on the ratings. The bank's senior unsecured rating of Caa1 was affirmed.

Mediobanca SpA: The outlooks on the issuer and senior unsecured ratings were changed to negative from stable. The bank's issuer and senior unsecured ratings of Baa1 were affirmed.

UniCredit SpA: the bank's senior unsecured debt ratings of Baa1were affirmed. The outlook on the senior unsecured debt ratings remains stable. The outlook on the senior unsecured rating remains stable because this rating is capped by Italy's government bond rating of Baa3 and therefore unlikely to be downgraded in the event of a lower baseline credit assessment.

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