Banca Piccolo Credito Valtellinese SpA (PCVI.MI)
8 Dec 2017
The following factors could affect Italian markets on Friday.
The following factors could affect Italian markets on Thursday.
(The following statement was released by the rating agency) MILAN/LONDON, December 06 (Fitch) Fitch Ratings has downgraded Credito Valtellinese's (Creval) Long-Term Issuer Default Rating (IDR) to 'B-' from 'BB-' and Viability Rating (VR) to 'b-' from 'bb-' and placed them on Rating Watch Evolving (RWE). A full list of rating actions is at the end of this rating action commentary. The rating action follows the announcement by Creval of a business plan, which envisages a EUR700 million capital inc
* SIGNS AGREEMENT FOR SALE OF PORTFOLIO OF NON PERFORMING SECURED EXPOSURES TO HOIST FINANCE
* CITIGROUP JOINS GUARANTEE CONSORTIUM FOR CREVAL'S CASH CALL
MILAN Italian bank Creval's planned 700 million euro ($828 million) new share issue will succeed and leave it in good shape for a merger which is certain to follow, its director general said.
* Bankers see fresh wave of M&A among smaller Italian lenders (Adds comments, details)
MILAN, Nov 21 Italian mid-tier lender Credito Valtellinese is in talks with banks to set up a consortium to underwrite its planned 700 million euros ($822 million) capital increase, a source close to the matter said on Tuesday.
MILAN U.S. fund Cerberus Capital Management is among potential investors interested in Italian bank Creval's turnaround plan but it is too early to say whether it will also commit to buying into the lender's planned share issue, a source close to the matter said.
MILAN, Nov 21 U.S. fund Cerberus Capital Management is among potential investors interested in Italian bank Creval's turnaround plan but it is too early to say whether it will also commit to buying into the lender's planned share issue, a source close to the matter said.