DBRS on March 24 kept Banca Monte dei Paschi di Siena SpA's B (low) issuer rating and senior long-term debt and deposit rating, as well as the R-5 short-term debt and deposit ratings, under review with developing implications.

The Italian lender's BBB (low)/R-2 (middle) long- and short-term critical obligations ratings remain under review with negative implications.

The extension of the review period reflects ongoing uncertainty surrounding Monte dei Paschi's recapitalization, currently foreseen taking place with an injection of state aid. The agency said it will continue to monitor developments relating to the recapitalization effort, including any details of a restructuring plan submitted to Italian and European authorities March 9.

DRBS will also continue to monitor Monte dei Paschi's franchise and liquidity position during the review, which is expected to be resolved by June.