December 13, 2016 / 5:24 PM / 10 months ago

DBRS downgrades Monte dei Paschi to B (low)

MILAN, Dec 13 (Reuters) - Credit rating agency DBRS said on Tuesday it had lowered troubled Italian lender Banca Monte dei Paschi di Siena’s senior long-term rating to B (low) from B (high).

DBRS also changed the review on Monte dei Paschi’s ratings to “Developing” from “Negative Implications”.

In a statement DBRS said the move reflected both a higher execution risk for the bank’s privately-funded recapitalisation plan and increased investors’ concerns over political stability in Italy. (Reporting by Francesca Landini; Editing by Greg Mahlich)

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