Banca Mps: Fitch affirms Bmps long- and short- term ratings. Viability rating downgraded
Banca Monte dei Paschi di Siena informs that international ratings agency, Fitch, has affirmed the Issuer's long-term rating at ‘BBB’ with a stable outlook, short-term rating at ‘F3’ and Support Rating Floor at ‘BBB’, confirming the Bank's systemic importance.
As part of the rating action, the:
- Viability Rating was downgraded from ‘bb ’ to ‘b’ and removed from Rating Watch Negative
- Lower Tier 2 was downgraded from ‘BB’ to ‘B-’ and removed from Rating Watch Negative
- Upper Tier 2 was downgraded from ‘B-’ to ‘CCC’ and removed from Rating Watch Negative
- Tier 1 instruments and preferred stock were downgraded from 'CCC' to 'CC'.
The full version of Fitch's Press Release can be viewed on the rating agency's website: www.fitchratings.com.