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Fitch Ratings Places Banca Popolare di Milano Scarl's Long-Term Rating on Credit Watch Negative

Friday, 26 Jul 2013 01:19pm EDT 

Banca Popolare di Milano Scarl announced that on July 26, 2013, the International Rating Agency Fitch Ratings, within a revision process which involved eight Italian mid-sized banks, placed on Credit Watch negative the Viability Rating (bbb-), the long term rating (BBB-) and the short term rating (F3) of Banca Popolare di Milano. The Credit Watch reflects the expectation of the Rating Agency on the ability of the Bank to complete the strengthen, and consequently, the improvement of its corporate governance. Fitch Ratings has instead confirmed the Support Rating (3) and the Support Rating Floor (BB+).