June 2, 2017 / 8:17 PM / 6 months ago

BRIEF-Fitch downgrades San Marino to 'BBB-' outlook stable​

June 2 (Reuters) -

* Fitch downgrades San Marino to ‘BBB-'; outlook stable​

* Fitch on San Marino - revised country ceiling down to ‘BBB+’ from ‘A’, and downgraded short-term foreign-currency idr to ‘f3’ from ‘f2’

* Fitch, on San Marino, says ‍developments in banking sector increased likelihood that sizeable state recapitalisations will be required, adding to public debt

* Fitch on San Marino says need for public banking sector support partly reflects ongoing weaknesses in asset quality and profitability across sector

* Fitch, on San Marino, says considers private sector solutions will prove insufficient to make up identified capital shortfalls Source text for Eikon:

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