Banca MPS: S&P places MPS ratings on creditwatch following sovereign placement on negative watch. Ratings on hybrid upper - tier 2 debt instruments raised to "BBB-" from "BB "

Following S&P's decision to place 15 euro zone countries, including Italy, on Credit Watch Negative, MPS credit ratings (BBB /A-2) and its subordinated, junior and hybrid instruments were placed on Credit Watch.

Ratings on hybrid upper-tier 2 debt instruments were raised to ‘BBB-‘ from ‘BB ’.