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9 Jul 2013
S&P downgrades Italy to BBB, outlook negative
FXstreet.com (Córdoba) - Ratings Agency Standard & Poor's decided to downgrade Italy on Tuesday, cutting the rating to BBB from BBB+.
According to S&P, this action reflects their view of the effects of further weakening growth on Italy's economic structure and resilience, and its impaired monetary transmission mechanism.
S&P also left their outlook at negative, meaning there is at least one-in-three chance that the rating could be lowered again in 2013 or 2014.
According to S&P, this action reflects their view of the effects of further weakening growth on Italy's economic structure and resilience, and its impaired monetary transmission mechanism.
S&P also left their outlook at negative, meaning there is at least one-in-three chance that the rating could be lowered again in 2013 or 2014.