Moody's could cut Banco Popolare

Moody's Investors Service said it placed the Baa3/Prime-3 long and short-term debt and deposit ratings of Banco Popolare Societa Cooperativa and the D+ standalone bank financial strength rating, equivalent to a standalone credit assessment of Ba1, on review for downgrade.

Moody's said the review was caused by its concern about: (a) The deteriorating trend of Banco Popolare's already weak asset quality; and (b) the bank's low internal capital generation, against the background of the current recession in Italy.

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