LONDON – Standard&Poor's CreditWire 2/12/98 -- Standard&Poor's today raised its long-term counterparty ratings of Credito Italiano SpA and Rolo Banca 1473 SpAo single-'A'-plus from single-'A'. At the same time, the banks' 'A-1' short-term counterparty ratings were affirmed. The outlook on the ratings of both banks is stable. The upgrade in the ratings reflects the banks' unique credit characteristics and profiles in the Italian banking sector, which is entering a phase of rapid consolidation. Rolo Banca is the product of a merger between Credito Romagnolo and Carimonte Banca. Credito Romagnolo was acquired by Credito Italiano in February 1995. At June 30, 1997, the Credito Italiano banking group had total consolidated assets of Italian lira (ITL) 179,463 billion
