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Fitch Ratings Downgrades Credit of Italy's Largest Bank

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2011-12-21

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Global ratings agency Fitch has downgraded the credit of Italy's largest bank and has warned other major banks in the eurozone that they may be next.
Italy's Unicredit was cut to A- from A while seven other Italian banks were put on a negative watch list.
Over in Spain eight banks are on the same list.
And in France four banks including Societe Generale had their outlooks lowered to 'negative'.
Last week Fitch lowered the outlook on France's AAA rating to negative along with warnings issued to other European nations due to the ongoing eurozone crisis.
Reporter : slim@arirang.co.kr

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