Ratings agency DBRS confirmed Italy and Spain at A (low), both with a negative trend.
On Italy:
The rating confirmation reflects Italy’s strong commitment to fiscal consolidation, as reflected in a budgetary position that remains relatively strong and compares favourably with the Euro area average
On Spain:
The ratings incorporate recent evidence of macroeconomic stability. This includes more balanced economic activity, the stabilization of the financial sector, better financial market conditions, higher foreign capital inflows, and an ongoing forceful policy response to the crisis.
