Italian banks face the prospect of higher financing costs after the rating agency DBRS has put the country's credit rating "A" for review citing uncertainty about the referendum, scheduled for the autumn.

"It was decided to revise the rating of Italy, as the political uncertainty surrounding the forthcoming constitutional referendum, and the pressure on Italian banks pose to the rating risks. Concerns also cause weak growth in the third largest European economy and its high level of public debt to GDP.", - noted DBRS.