RTRS: Moody’s Downgrades Italy’s Bond rating

Author: Ed Thomas | Category: News
  • Maintains negative outlook.
  • Downgrades rating to Baa2 from A3.
  • Italy more likely to experience a further sharp increase in it’s funding cost or the loss of market access than at the time five months ago during our rating period .
  • Near-term economic outlook has deteriorated.
  • Could be downgraded further in the event there is additional material deterioration in the country’s prospects or difficulties in implementing reform.
  • Moody’s lowered the maximum rating that can be assigned to a domestic issuer in Italy , including structured finance  securities backed by Italian receivables, to A2 from AAA.

Have they gotten to Greece and Spain yet ?

Euro just a tad softer at 1.2190.

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