Fitch changes view on Italian banks

Fitch Ratings said it revised the outlooks on UniCredit SpA's, Intesa Sanpaolo's, Mediobanca SpA's and Credito Emiliano's BBB long-term issuer default ratings to negative from stable.

The outlook on Banca Nazionale del Lavoro's BBB+ long-term issuer default ratings was revised to negative from stable.

The banks' long- and short-term issuer default ratings were affirmed.

The agency said the action follows the revision of Italy's outlook to negative.

Fitch said it views that the banks would likely be downgraded if Italy's rating is downgraded.

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