Martedì, 16 Ottobre 2018

Fitch to limit financial analysis activities in Italy


Rome, November 14 - International ratings agency
Fitch, outraged by Italian prosecutors' decision to go after it
for alleged market manipulation, said Wednesday that it will
limit its activities in Italy.
Earlier this week, prosecutors in Trani requested that
managers of ratings agencies Standard & Poor's and Fitch be
indicted for alleged market tampering related to their
assessments, especially concerning Italy's sovereign debt.
Prosecutors had said earlier this year that they were
investigating the possibility that "false, unfounded or
imprudent judgements" had unduly affected markets.
Wednesday, Fitch hit back, saying that the indictments were
"unprecedented" and without merit.
"Effective immediately - and in the absence of clarity
around why Trani opposes analysts sharing legitimate opinions
with the market in a transparent and appropriate manner - Fitch
has restricted its market communication regarding the ratings of
Italian entities and issuances to formal published research,"
said Fitch.
"All teleconferences, conferences in Italy and any similar
events for the purpose of discussing Italian entities are
suspended, and questions from third-party market participants
such as investors or journalists will be referred back to our
published comments".
Standard & Poor's has called the Trani prosecutors'
accusations "totally unfounded".

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