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Italy ratings downgrade won't have big effect on borrowing costs - Trsy source
January 13, 2017 / 7:14 PM / a year ago

Italy ratings downgrade won't have big effect on borrowing costs - Trsy source

ROME, Jan 13 (Reuters) - The decision by ratings agency DBRS to cut Italy’s sovereign credit rating will not have a significant impact on the country’s borrowing costs, a Treasury a source said on Friday.

DBRS lowered Italy’s rating to BBB (high) from A (low), citing uncertainty over the country’s ability to pass reforms, continuing weakness in its banking system, and fragile growth.

The Treasury source, who asked not to be named, said the move may affect yields on Italy’s short term bonds but “will not have a significant impact on our debt servicing costs.”

Reporting By Gavin Jones

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