Italy Another Downgrade Likely
Published / Last Updated on 10/01/2012
Italy Another Downgrade Likely.
According to David Riley, head of global sovereign ratings, it is likely that Italy will have its credit rating downgraded this month, due to the lack of a plan to halt the eurozone crisis.
Italy and 5 other eurozone countries were all warned last month that they were at risk of a downgrade by Fitch. Italy currently holds an A+ rating, but last month, along with Spain, Slovenia, Cyprus, Belgium and the Irish Republic, it was placed on "credit watch negative" by Fitch, which means it could face a downgrade within 3 months.