Published February 08, 2013
MILAN – DBRS Ratings Limited confirmed its long-term rating for Monte dei Paschi at 'BBB' with a negative outlook, the troubled Italian lender said on Friday.
The short-term rating on debt and deposit was affirmed by `R-2 (mid)' with a stable outlook.
The move came after the bank - at the center of a widening scandal because of concealed derivatives trades - said on Wednesday losses linked to three problematic derivative trades totaled 730 million euros, not far from preliminary estimates.
(Reporting by Francesca Landini, editing by Jennifer Clark)