October 19, 2018 / 10:00 AM / a month ago

Fitch says Italian bank ratings under pressure due to country risk

MILAN, Oct 19 (Reuters) - Fitch Ratings warned on Friday that Italy’s sovereign travails put the debt ratings of the country’s lenders under growing pressure.

The agency revised its outlook on Italy’s ‘BBB’ rating to negative in August due to the prospect of a weakening of public finances under Italy’s new coalition government.

A sovereign downgrade of Italy would most likely lead to downgrades of Banca Nazionale del Lavoro, Credito Emiliano , Intesa Sanpaolo, Mediobanca, UniCredit and Unipol Banca, it said.

“Other Italian bank ratings could also come under pressure if refinancing conditions become more difficult or if banks’ asset quality weakens significantly,” Fitch added in a statement. (Reporting by Valentina Za)

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