Fitch has lowered credit ratings of 8 Italian banksthe International rating agency Fitch Ratings has lowered a long-term rating of a default of the emitter (RDE) and a rating of stability of eight Italian banks, having appropriated it “ negative “ the forecast. On it it is informed in a press - agency release.
it is a question of banks of average size Banca Popolare di Sondrio, Credito Emiliano, Banca Popolare dell`Emilia Romagna, Banca Popolare di Milano, Credito Valtellinese, Veneto Banca, Banca Popolare di Vicenza and Banca Popolare dell`Etruria e del Lazio.
Fall of ratings reflects conviction of analysts of agency that average Italian banks experience structural complexities in the conditions of the changed financial environment, in particular, against decrease in operational profits, discount rates and cost growth fondirovanija.
Thus Fitch predicts, banks will continue to bear the substantial damages concerning a non-return under credits. Analysts recommend to financial institutions to support higher level of liquid actives, and also to raise level of sufficiency of the capital. In the message it is specified that assignment to ratings “ negative “ the forecast it is caused by possibility of the further deterioration of conditions of operational activity of banks at the bearish risks caused by present adverse market conditions.
It is noticed that languid economic dynamics to Italy, the bearish risks concerning profits of banks, and also appeals of the international institutes to increase of level of sufficiency of the capital, can force to reconsider average Italian banks the intermediate term and long-term target indicators under the capital and to accelerate realisation before the accepted corresponding plans.
in the comment of analytics have expressed opinion that the economy of Italy was included into a recession phase. On October, 7th 2011ã. Fitch has lowered long-term RDE Italy in local and foreign currency with AA - to And +. Short-term RDE Italy in foreign currency also it is lowered - with F1 + to F1. To a long-term rating has been appropriated “ negative “ the forecast. On October, 11th of this year the agency has lowered ratings of five largest banks of republic.
the day before the government of Italy has placed exchequer bills for a period of six months under record profitableness in 6,5 % annual. The exchequer managed to find buyers on all release of papers in volume 10 mlrd euro, however profitableness it has appeared almost twice above, than at similar auction in October 2011ã. Right after placings which exchange analysts already named “ awful “ profitableness 2 - summer Italian state bonds at the auctions has risen above 8 % - also a record indicator in the history of euro. Indicative 10 - summer bonds bargained with profitableness of 7,34 %. Rates on short-term papers of Italy now above rates on long-term, and it is the indicator of fears in the market that Rome will meet difficulties refinancings already in short-term prospect.
on November, 9th 2011ã. Profitableness of state bonds of Italy during crisis has exceeded for the first time 7 - a percentage mark which it is considered to be original “ a non-return point “. At such cost of loans financing of budgetary deficiency and smooth refinancing of a state debt becomes inconvenient. After rates on similar state papers of Greece, Portugal and Ireland have exceeded 7 %, these countries of an eurozone have been compelled to address for the international financial help.