ITALY: Fitch Affirms Italy at ‘BBB’; Outlook Stable

Wednesday October 25 2017

On 20th October 2017, Fitch Ratings affirmed Italy’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB’ with a Stable Outlook.

The key rating drivers behind Italy’s ‘BBB’ rating is due to a diversified, high value-added economy, with GNI per capita, governance and human development indicators much stronger than the peer group median. Private sector indebtedness is moderate, there is a sustainable pension system, and government yields are low. Set against this are the extremely high level of public debt, a track record of fiscal slippage, relatively high net external debt, low trend GDP growth, ongoing weakness in the banking sector, and political risk.

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