Italian banks face increased pressure on their ratings from sovereign-related risks, Fitch Ratings said in a report released this Friday.
Key highlights:
“¢ Some Italian banks are likely to have experienced a meaningful decline in capital.
“¢ A sovereign downgrade of Italy would likely to lead downgrades of BNL, Credem, Intesa, Mediobanca, Unicredit and Unipol Banca.
“¢ Other Italian bank ratings would also come under pressure if refinancing conditions become more difficult or bank’s assets weaken significantly.
“¢ Expects the Italian bank’s funding costs to increase in the medium term, second-tier banks more at risk.
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