And talking of rating agencies - Moody's cuts ratings for 26 Italian banks

Moody's Investors Service on Monday cut the long-term debt and deposit ratings for 26 Italian banks by one to four notches, highlighting the tough environments in Italy and Europe.

The ratings for Italian banks are now among the lowest in advanced European countries, Moody's said, reflecting a combination of adverse conditions, asset quality deterioration and restricted access to market funding ... READ MORE

Released by the Financial Times - 15 May 2012