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Standard & Poor’s Lowers Banco Popolare Sc's Long-Term Rating; Affirms Short-Term Rating


Wednesday, 24 Jul 2013 02:08pm EDT 

Banco Popolare Sc announced that the rating agency Standard & Poor’s, as a consequence of the downgrade, on 9 July 2013, of Italy’s long-term rating from BBB+ to BBB and the subsequent lowering by one notch of the so-called anchor for the Italian banking industry, as part of a review that has involved the Italian banking system, has lowered the long-term rating of Banco Popolare and of its subsidiaries Credito Bergamasco and Banca Aletti from BB+ to BB. At the same time, Standard & Poor’s has affirmed the short-term ratings at B.