April 28, 2020 / 8:49 PM / 2 months ago

Fitch cuts Italy's credit rating to 'BBB-' with stable outlook

April 28 (Reuters) - Rating agency Fitch cut Italy’s credit rating to ‘BBB-‘ on Tuesday, saying the downgrade reflects the significant impact of the coronavirus pandemic on the country’s economy.

Fitch also changed Italy's outlook to stable from negative, adding that it reflects the agency's view that the European Central Bank's net asset purchases will facilitate the country's substantial fiscal response to the COVID-19 pandemic. (bit.ly/2VJl6a3) (Reporting by Devbrat Saha; Editing by Shounak Dasgupta)

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