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Moody’s cuts Italy’s outlook to ‘negative’ from ‘stable’
2022.08.06 00:09
FILE PHOTO: Signage is seen outside the Moody’s Corporation headquarters in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly
(Reuters) – Global ratings agency Moody’s (NYSE:MCO) cut Italy’s outlook to “negative” from “stable”, citing heightened risks that the political environment would impede the implementation of structural reforms.
“Risks to Italy’s credit profile have been accumulating more recently because of the economic impact of Russia’s invasion of Ukraine and domestic political developments, both of which could have material credit implications,” the agency said.
Italy’s sovereign rating was affirmed at Baa3.
