April 21, 2017 / 8:34 PM / 4 months ago

BRIEF-Fitch downgrades Italy to 'BBB'; Outlook stable

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:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below