UniCredit, Intesa Among 26 Italian Banks Cut by Moody’s

UniCredit SpA and Intesa Sanpaolo SpA were among 26 Italian banks that had their credit ratings cut one to four levels by Moody’s Investors Service, which cited weakened earnings and the country’s economic outlook.

UniCredit, Italy’s biggest bank, had its long-term debt rating lowered one step to A3, Moody’s said in a spreadsheet on its website yesterday. Milan-based Intesa, the nation’s second-largest lender, also was downgraded to A3 from A2.