February 8, 2013 / 10:59 AM / in 5 years

DBRS confirms Monte Paschi long term rating at "BBB"

MILAN (Reuters) - DBRS Ratings Limited confirmed its long-term rating for Monte dei Paschi (BMPS.MI) at ‘BBB’ with a negative outlook, the troubled Italian lender said on Friday.

    The short-term rating on debt and deposit was affirmed by `R-2 (mid)’ with a stable outlook.

    The move came after the bank - at the center of a widening scandal because of concealed derivatives trades - said on Wednesday losses linked to three problematic derivative trades totaled 730 million euros, not far from preliminary estimates.

    Reporting by Francesca Landini, editing by Jennifer Clark

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