Mediobanca: Standard & Poor’s changes ratings

“BBB-” (from  “BBB”) and its short-term rating to “A-3” (from “A-2”).

The outlook moves to Stable from Negative.

The Mediobanca stand-alone credit profile (“SACP”) remains unchanged at “bbb”.

This action follows the downgrade made to the rating for the republic of Italy on 5 December 2014, which now stands at “BBB-/Stable/A-3.

Mediobanca’s short- and medium-term ratings are now aligned with the sovereign ratings to which they are bound.

Milan, 19 December 2014