S&P Delivers a Downgrade, Italian-Style

The rating agency cut its long-term sovereign rating on Italy to A+, citing the country’s "inadequate" response to fiscal imbalances

On Oct. 19, Standard & Poor's Ratings Services lowered its long-term sovereign credit rating on the Republic of Italy to A+ from AA-, on poor prospects for a sustained fiscal consolidation program. At the same time, the A-1+ short-term sovereign credit rating on Italy was affirmed. The outlook is stable.

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