Fitch lowers ratings outlook for 5 Italian banks

Baku, September 9, AZERTAC

Following Fitch ratings agency's decision last week to revise Italy's outlook to 'negative', the agency lowered ratings outlook for five Italian banks, Bloomberg reports.

UniCredit, Intesa, Mediobanca SpA, Credito Emiliano and Banca Nazionale del Lavoro SpA's outlook ratings were cut to negative from stable.

Fitch confirmed the banks' long- and short-term ratings.

The decision reflects Fitch's view that the banks would likely be downgraded if Italy's rating was cut.

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