Italy Credit Rating Cut Again
Published / Last Updated on 12/07/2012
Italy Credit Rating Cut Again.
It has been announced this morning that Italy is going to try to raise in excess of 5bn euros. Italy's credit rating has been cut with warnings going out that the country and the country's people will see its government borrow a lot of money in the next few weeks.
Its credit rating has been cut by two notches to Baa3 from A3. The Baa3 level is only two levels above being categorised as junk.
If Italy raises the 5bn euros it wants to, then it will hopefully stimulate its economy and get it back on its feet.