Mercoledì, 19 Settembre 2018

Moody's says inconclusive vote threatens Italy's rating


Rome, February 27 - Moody's has said Italy's credit
rating is under threat as the nation faces the risk of political
gridlock after its general election failed to produce a clear
Pier Luigi Bersani's centre-left alliance came first but it
failed to win a working majority in the Senate.
"We would consider downgrading Italy's government debt
rating in the event of additional material deterioration in the
country's economic prospects or difficulties in implementing
reform," Moody's said.
"A deterioration in funding conditions as a result of new,
substantial domestic economic and financial shocks from the euro
area debt crisis would also place downward pressure on Italy's
Moody's gave Italy's long-term debt a rating of Baa2, two
notches above junk status, in July 2012, when it said there were
risks that the structural economic reforms and fiscal policies
adopted by outgoing Premier Mario Monti's emergency government
may not continue.
Another rating agency, Standard & Poor's, said the election
outcome would not immediately affect Italy's sovereign rating,
while stressing that it could in the future.

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