MPS downgraded by Standard and Poor's

Bank to be kept on Credit Watch Negative

MPS downgraded by Standard and Poor's

(ANSA - Rome, January 31 - Ratings agency Standard and Poor's downgraded its outlook for the troubled Monte dei Paschi di Siena (MPS) bank on Thursday from 'BB+' to 'BB' and said it will be kept on Credit Watch Negative. The negative outlook reflects "recent announcements of potential losses and strengthened our opinion on the possibility that MPS presents a significant financial risk profile," said the New York-based agency in a statement.

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