Moody's says announcement of potential corporate transaction of UniCredit and Banca Monte dei Paschi di Siena has no immediate ratings implications
Announcement: Moody's says announcement of potential corporate transaction of UniCredit and Banca Monte dei Paschi di Siena has no immediate ratings implications. Global Credit Research- 30 Jul 2021. Madrid, July 30, 2021-- Moody's Investors Service said that UniCredit S.p.A.' s announcement on 29 July 2021 of an agreement with the Italian government for a potential transaction involving Banca Monte dei Paschi di Siena S.p.A., has no immediate credit implications for both banks.Banca Monte dei Paschi di Siena Group is engaged in business areas such as leasing, factoring, corporate finance, investment banking and consumer credit. Co.'s Operating Segments are as follow: the Retail & Corporate division, made up by the Retail Banking and Corporate Banking segments, and the Corporate Centre. The Retail banking segment's areas of business include funding, lending, the provision of insurance products, financial and non-financial services (including through electronic payment instruments) to retail customers. The corporate banking segment's areas of business include lending and providing financial products and services to businesses.
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