(Finance) – The rating agency Moody’s has revised its rating outlook downwards of 14 Italian banks9 utilities and other companies state subsidiaries. A decision taken as a result of the similar action carried out on the sovereign rating of Italy (Baaa3), in response to the risk of political instability, doubts about the timely implementation of the PNRR and reforms and the keeping of public accounts.
The agency has revised the outlook on negative 14 credit institutionsconfirming the respective ratings: Intesa Sanpaolo, UniCredit, BPER, Banca Carige, Mediocredito Trentino-Alto Adige, FCA Bank, Banca del Mezzogiorno – MCC, Cassa Centrale Banca, Cassa Centrale Raiffeisen, Cassa Depositi e Prestiti, Invitalia, Credit Agricole Italia, Credito Emiliano, and Mediobanca. Among the banks, BNL’s outlook also worsensnow part of the Group Bnp Paribas.
The opinions on, however, remain unchanged Monte dei Paschi di Siena Bank, Banco BPMBanca Sella Holding, BFF Bank e Banca Ifis in consideration of the lower level of their rating, which is therefore less sensitive to a cut in the sovereign rating.
Cut out the outlook also on 9 Italian utilities a negative: Hera, Acea, Italgas, Snam, TernaCdp Reti, 2i Rete Gas, A2A, Is in the and controlled Endesa.
Same decision for some state subsidiaries such as Eni And Italian post.