S&P; downgrades 34 Italian banks
February 11th, 2012 - 10:17 am ICT by IANSRome, Feb 11 (IANS) Standard & Poor’s rating agency has downgraded 34 Italian banks.
The banks whose ratings were cut included the country’s biggest bank Unicredit, which was downgraded from A to BBB+ with a negative outlook, the ANSA news agency said Friday.
The action was a consequence of the downgrading of Italy to BBB+ decided Jan 13, Xinhua quoted a statement from S&P; as saying.
On Jan 19, Milan Police carried out checks in a local S&P; office as part of a probe against some rating agencies accused of manipulating market with “false, unfounded or otherwise imprudent judgments” on Italy’s economic-financial system and banks.
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Tags: ansa news agency, bbb, checks, consequence, downgrades, italian banks, italy, jan 19, judgments, milan, negative outlook, rome, unicredit, xinhua