Economics
Italy’s Rating Outlook Lowered by S&P After Draghi Departs
- S&P shifted outlook to stable from positive, affirmed rating
- Move follows collapse of country’s national unity government
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The outlook on Italy’s sovereign debt ranking was lowered by credit assessor S&P Global Ratings after recent political turmoil led to the resignation of the nation’s prime minister and the calling of fresh elections.
“These developments could shift the focus away from key reforms and further weigh on confidence and growth at a time of high uncertainty and rising inflation in the global and the European economy,” S&P analysts Frank Gill and Marko Mrsnik said on Tuesday. The firm revised its outlook on Italy to stable from positive.