The rating agencies are once again raising their voices. And this time it was the turn of seven medium-sized Italian banks. Fitch cuts its long-term debt rating Banca Popolare di Sondrio (from A- to BBB+), del Bank of Desio (A- to BBB+) and by bpm (BBB to BBB-).
But for four other institutes the judgment was even more severe and the rating was brought below investment grade, to junk level. It's about Carige, Popolare di Vicenza, Credito Valtellinese and Veneto Banca: for all the downgrade was two notches from BBB to BB+. On the other hand, Bper's BBB rating and Credem's BBB+ rating were confirmed.
But there are many fears about Italy's future. The outlook is negative for all banks and according to Fitch the peninsula's GDP will decrease by 1,9% in 2012 and will mark zero growth next year.
The rating agency launched thealarm also for the United States: if the US government does not intervene by the end of the year on taxes and cuts in public spending, avoiding the "fiscal cliff", the American triple A is at risk.
