Fitch Affirms Region of Umbria's Credit-linked Notes at 'BBB+' on Sovereign Action

April 24, 2015 8:12 PM

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(The following statement was released by the rating agency) MILAN/PARIS/LONDON, April 24 (Fitch) Fitch Ratings has affirmed the Region of Umbria's EUR140.7m (originally EUR487.3m) 4.86% amortising notes due 2018 (ISIN: XS0156017955) at Long-term local currency rating 'BBB+'.

The notes are credit-linked to the Italian sovereign. The rating action follows the affirmation of Italy's ratings on 24 April 2015. The notes were issued on 21 November 2002 by the Region of Umbria in anticipation of funds to be provided by the Italian government for reconstruction following the 19...

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