Italy risks a new reduction in its debt rating by the Fitch agency. “The Italian growth rates forecast for next year are very low as well,” he told Ansa Alessandro Settepani, the director of Fitch with expertise on Italy according to which the lack of interventions for growth and debt reduction "could affect the rating".
On October 7, the Fitch agency downgraded its rating from 'AA-' to 'A+' with a negative outlook. The probable times in which there could be "a new rating action are within 12/24 months - explains Settepani on the sidelines of the 'Insurance Roadshow' organized by Fitch in Milan - even if it is possible that it could be done sooner if something negative happens ”.
For Italy, the rating agency has placed a negative outlook "because evidently there are a number of problems, even if
the situation is evolving: today we hope that in Europe - adds the senior director of Fitch based in Italy - we can understand something more especially on the growth front: we expect something concrete".
According to Settepani, among the possible 'zero cost' measures, the most handy are those on "liberalization and flexibility of the labor market. To raise cash you can also think about privatization and disposal of public buildings – replies the senior director of Fitch when asked about the measures that the Italian government could adopt – even if in this case the times are probably long”.
