May 4, 2020 / 1:49 PM / 25 days ago

Italy minister says possible to extend state guarantees to UTP loans

ROME, May 4 (Reuters) - Italy’s Industry Minister Stefano Patuanelli said on Monday that an extension of state guarantees on bank debt to include firms classed as “unlikely to pay” even before being hit by the COVID-19 pandemic was possible.

Banking association ABI last week asked Italy’s government to extend state guarantee measures to UTP loans.

“An extension to include UTPs is something we could certainly do,” Patuanelli told a parliamentary hearing.

Reporting by Giuseppe Fonte; editing by Valentina Za

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