May 30, 2018 / 4:45 PM / in a year

CORRECTED-Moody's reviews Italian banks for downgrade

(Corrects to make clear Moody’s put Italy’s government bond rating under review for downgrade, did not cut Italy’s rating)

MILAN, May 30 (Reuters) - Rating agency Moody’s said on Wednesday it had placed under review for downgrade the long-term deposit ratings of six Italian banks, including Intesa Sanpaolo and Mediobanca.

Moody’s was also reviewing the issuer or the senior unsecured debt ratings of four lenders, including state-controlled Cassa Depositi e Prestiti (CDP), and the counterparty risk assessment of nine institutions, including UniCredit and Credito Emiliano.

The move was triggered by Moody’s decision to put Italy’s Baa2 government bond rating under review for downgrade last Friday. (Reporting by Francesca Landini, editing by Larry King)

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