Fitch Cuts Outlook For Italian Banks To Negative Due To High Bad Debt, Referendum Vote Risks
Moments ago Fitch added some more fuel to the Italian bank fire when it announce it has changed its outlook on Italian banks to negative, a reflection of "its increased vulnerability to shocks following the asset-quality deterioration in legacy portfolios. A step-up in pressure from authorities and market participants on the sector to reduce the very high levels of impaired loans has increased urgency and risks for Italian banks"
From the press release
Italian Banks Outlook Negative as Bad Debts Persist