Fitch on Italian banks
Fitch saying this via Reuters
- Some Italian banks are likely to have experienced a meaningful decline in capital
- A sovereign downgrade of Italy would likely to lead downgrades of BNL, Credem, Intesa, Mediobanca, Unicredit and Unipol Banca
- Other Italian bank ratings would also come under pressure if refinancing conditions become more difficult or bank's assets weaken significantly
- Expects Italian bank's funding costs to increase in medium term, second-tier banks more at risk
