Fitch cuts Italy's credit rating to BBB+ from A- with negative outlook. The rating agency's judgment arrived after closed markets and reflects the "inconclusive result of the Italian elections". The current recession in Italy is one of the deepest in Europe – writes Fitch – and the data indicate the risk that it will last longer than expected. Not only. The deeper and longer-than-expected recession "puts the fiscal consolidation effort at risk and increases the risks of the financial sector". The rating agency forecasts a contraction of the Italian GDP of 1,8% in 2013, the debt will instead be close to 130%.
Fitch: "Inconclusive elections in Italy". And cuts rating to BBB+ from A- with negative outlook
The agency cut Italy's rating to BBB+ from A- with negative outlook - The rating reflects the "inconclusive outcome of the Italian elections" - The deeper and longer-than-expected recession "puts at risk the fiscal consolidation effort and increases the risks of the financial sector” – In 2013 GDP expected at -1,8% and debt close to 130%
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FIRSTonline is an independent web journal of economics, finance and stock exchange published by AL Iniziative Editoriali Srl with registered office in Rome, founded and controlled by Ernesto Auci e Franco Locatelli and owned by two minority shareholders (Alessandro Pavesi and Laura Rovizzi). The portal and its applications are created in daily life by two agile editorial offices, one in Milan and one in Milan Rome, and by an innovative and effective team of innovation and web managers.
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