Domenica, 23 Settembre 2018
ROME

Economy minister blasts S&P downgrade of Italy

English
© ANSA

Rome, July 10 - Standard & Poor's decision to cut
its rating for Italy down to BBB from BBB+ with a negative
outlook "appears to be based on a mechanical extrapolation of
past data", Italian Economy Minister Fabrizio Saccomanni said
Wednesday.
Saccomanni also said the rating agency's "perception of
risks was only based on worst-case scenarios".
Saccomanni added that "what will really count will be the
considerations made by Italian and foreign investors" and that
today's bond issues "went pretty well" despite the downgrade.
In a statement released on Tuesday the ratings agency said
the Italian economy will contract by 1.9% in 2013, with a
debt-to-GDP ratio of 129%.

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