BRIEF-UAE's Rak Properties Q1 profit rises
* Q1 net profit 39.9 million dirhams versus 18.5 million dirhams year ago
MILAN Jan 12 Standard and Poors' does not see any impact on its ratings on Italian banks, should credit rating agency DBRS downgrade Italy in its planned review, S&P's analyst for the banking sector said on Thursday.
On Friday DBRS will decide whether to cut its long-term sovereign rating on Italy, in a move that could raise the cost of borrowing central bank funds for the country's struggling lenders. (Reporting by Giulio Piovaccari; writing by Francesca Landini)