Banca Popolare di Sondrio ScpA : - Fitch Ratings modifica il Support e Support rating floor

Fitch Ratings-Milan/London-19 May 2015: Fitch Ratings has downgraded nine Italian banks' Support Ratings (SR) to '5' and revised their Support Rating Floors (SRF) to 'No Floor'. The affected banks are UniCredit S.p.A., Intesa Sanpaolo S.p.A., UBI Banca S.p.A, ICCREA Holding S.p.A., Banca Popolare di Vicenza, Banca Popolare di Sondrio, Credito Emiliano, Credito Valtellinese, and Banco di Desio e della Brianza. The banks' other ratings are unaffected by these rating actions.

The rating actions are in conjunction with Fitch's review of sovereign support for banks globally, which the agency announced in March 2014. In line with its expectations announced in March last year and communicated regularly since then, Fitch believes legislative, regulatory and policy initiatives have substantially reduced the likelihood of sovereign support for US, Swiss and European Union commercial banks.