April 29, 2020 / 6:25 PM / a month ago

BRIEF-S&P Says Outlooks On Most Italian Banks Now Negative On Deepening Covid-19 Downside Risks

April 29 (Reuters) - S&P Global Ratings:

* S&P SAYS OUTLOOKS ON MOST ITALIAN BANKS NOW NEGATIVE ON DEEPENING COVID-19 DOWNSIDE RISKS

* S&P SAYS CONTINUE TO EXPECT ITALY’S WIDE-RANGING FISCAL, RELATED MONETARY MEASURES TO SUBSTANTIALLY MITIGATE THIS SHARP, CYCLICAL SHOCK TO ECONOMY

* S&P SAYS EXPECT ITALIAN BANKS’ EARNINGS, ASSET QUALITY, AND, IN SOME CASES, CAPITALIZATION, TO WEAKEN MEANINGFULLY THROUGH END-2020 AND INTO 2021

* S&P SAYS EXPECT COVID-19 PANDEMIC TO CAUSE SEVERE RECESSION IN ITALY, AND INDEED IN MOST EUROPEAN COUNTRIES, IN 2020 Source text: (bit.ly/2y1uCwj)

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