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April 21 (Reuters) - Fitch:
* Fitch downgrades Italy to 'BBB'; Outlook stable
* Has downgraded Italy's long-term foreign- and local-currency Issuer Default Ratings to 'BBB' from 'BBB+'
* Country ceiling has been revised down to 'AA' from 'AA+'
* Italy's record of fiscal slippage, back-loading of consolidation, weak economic growth has left it more exposed to potential adverse shocks
* Risks of "weak or unstable" government have increased, as has possibility of "populist and eurosceptic" parties influencing policy
* Short-term foreign- and local-currency IDRs have been affirmed at 'F2'
* Fitch says rating outlook for Italian banking sector is negative Source text for Eikon: