Italy’s Outlook Raised to Positive by S&P Global on Reforms

Italy’s credit rating outlook was raised to positive from stable by S&P Global Ratings, which said the progress in implementing reforms will boost economic growth, benefiting fiscal consolidation.

S&P affirmed the BBB rating on Italy, which is two notches above junk. The country’s prospects are looking brighter as increasing rates of vaccination have allowed it to avoid renewed lockdowns. Recovery aid from the European Union is supporting the economic an economic rebound and ECB action in financial markets is keeping bond yields in check.