MILAN Dec 23 Credit rating agency Standard &
Poor's said it saw no immediate impact on banks' ratings from
Italy's move to set up a 20 billion euro ($21 billion) fund to
help struggling lenders, starting with a bailout of Monte dei
Paschi di Siena.
"While the fund alleviates the problem for some weak banks,
it underlines their fragile situation and lack of market
access," the agency said.
"We will monitor the implementation of the fund and assess
the possibility of incorporating short-term support to our
ratings on banks that benefit from it," it added.
($1 = 0.9573 euros)
(Reporting by Valentina Za)