MILAN, April 15 Standard & Poor's may cut Veneto
Banca's long-term 'BB' rating by one or two notches, the rating
agency said on Tuesday, warning the Italian mid-sized bank could
have difficulties meeting its capital strengthening and business
S&P said it was placing the bank's ratings on review for a
possible downgrade following the unveiling of its new 2014-2018
business plan and capital raising measures comprising a 500
million euros share sale and the conversion of a 350 million
euro bond into equity.
S&P said it would wait until after shareholders meeting on
April 26 named a new board to assess "both the bank's management
stability and its capacity to complete the actions announced."
Veneto Banca is one of 15 Italian lenders under review by
the European Central Bank in a check up of euro zone banks this
(Reporting by Valentina Za; editing by Francesca Landini)