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8/31/2018, 10:57 PM (Source: TeleTrader)
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Fitch revises Italy's outlook to negative, reaffirms BBB

Fitch Ratings revised its outlook on Italy's issuer default ratings (IDR) from stable to negative on Friday, while its credit rating was reaffirmed at BBB.

The report stated it expects partial fiscal loosening that will leave the country's "very high public debt more exposed to potential shocks." The downside risks have increased since the last review in March, the document continues, citing banking system weakness, the public debt sustainability and political uncertainty as the negative factors. According to Fitch, there is a growing possibility the coalition government will not last for a full term and early elections will be held in 2019.

Breaking the News / MD