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May 17th, 2012 
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Moody’s Begins Euro-Bank Downgrade Tour With Italy
The Street – Over two dozen Italian banks were downgraded by Moody’s Investors Services Monday as the rating agency kicked off a promised multi-week revision of its assessment of Western-European financials. The downgrades ranged from one to four notches, with banks such as Cassa di Risparmio di Ferrara scraping the ratings basement with a D- and Intesa Sanpaolo SpA hitting the top of the range with a C+. UniCredit SpA — one of the country’s largest institutions — had its rating cut to C-. Read Article
Tags: banks, debt wealth, Europe, financial system
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