S&P's Italian Bank Analyst Thinks S&P's Italian Sovereign Analyst Needs A Reality Check

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Photo: Daniel Goodman / Business Insider

The Standard & Poor’s analyst covering the Italian banking sector disagreed with the rating agency’s January downgrade of Italy’s sovereign debt, Reuters reports.Reuters obtained an email sent by analyst Renato Panichi to the team responsible for crafting the downgrade statement, saying “some of the assessments expressed in the report do not correspond to reality.”

The email was seized by the Italian government as it investigates S&P’s downgrade of the country and possible market manipulation. 

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