S&P Affirms Italy Rating, Giving More Time to Implement Reforms
- Rating agency expects Italian economy to stagnate this year
- Gross domestic product reading could confirm recession phase
Pedestrians take photographs in front of the Duomo cathedral in Milan.
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
S&P Global Ratings affirmed Italy’s credit rating Friday, giving more time to Rome’s populist government to implement convincing measures to address the country’s economic woes.
The agency affirmed Italy’s sovereign ratings at BBB, at the second-lowest investment grade. The outlook on the rating is negative, indicating that downgrades are possible.