S&P raises rating on Popolare Emilia Romagna

MILAN, June 17 Tue Jun 17, 2014 1:41pm EDT

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MILAN, June 17 (Reuters) - Standard & Poor's has raised its long-term rating on Banca Popolare dell'Emilia Romagna to "BB" from "BB-", the Italian mid-sized lender said on Tuesday.

The bank said S&P had raised its rating after approval by the lender's shareholders of a 750 million euro capital increase.

S&P confirmed its short-term "B" rating, it said. (Reporting by Stephen Jewkes)