UniCredit Loss Raises Questions on Italy Bank Profitability, Moody’s Says

Losses at UniCredit SpA (UCG) raise questions about the profitability of Italian bank units, according to Moody’s Investors Service.

A goodwill writedown reported by the company “may indicate that the bank’s expected profitability of some of its acquired entities may be impaired on a more permanent basis,” Moody’s said in its Weekly Credit Outlook today.

To contact the editor responsible for this story: Naoto Hosoda at nhosoda@bloomberg.net

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