Rome

ECB says Italian firms credit risk deteriorated sharply

But impact of crisis 'subdued' for German, Dutch companies

ECB says Italian firms credit risk deteriorated sharply

(ANSA) - Rome, August 9 - The European Central Bank said on Thursday that the eurozone debt crisis has had a big impact on the credit risks of companies in the area, with Italian firms hit particularly hard. "The overall increase in uncertainty was accompanied by a sharp deterioration in markets' assessments of firms' credit risk, as measured, for instance, by expected default frequencies," the ECB said in its monthly bulletin. "Across the larger euro area countries, this rise was particularly pronounced for Italian firms, while it was rather subdued for Dutch and German firms".

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