Mediafax (Mediafax)
Markets  |  July 20, 2012 10:05:11

Fitch confirmed the rating on the Italian A-level


MILAN / NEW YORK (MEDIAFAX) - International rating agency Fitch has confirmed long-term issue rating (IDR) in foreign and domestic currency Italy at "A-" with negative outlook. Informed the agency said.

Italy short-term rating in foreign currency, Fitch confirmed at "F2" and ceiling rating at "AAA".

Rome by Fitch may be the debt of two billion euros lower, but the high cost of borrowing in the market and the failure of politicians at the European level continue to pose a threat, which led Fitch to leave negative rating outlook.

Stabilization and debt reduction, but Italy is by Fitch to reach. "The main risk to debt sustainability stems from the continued growth range of Italian government bonds, which has the potential to deepen the recession in the country," Fitch noted below.

According to the agency, there is little risk that Italy has lost access to markets. Request for foreign assistance may be possible when the proceeds of the bonds continue to grow.

Less than a week ago, while another of the big three global rating agencies - Moody's - cut Italy's credit rating two levels to "Baa2". Standard & Poor's rating of Italy held at "BBB +".

Strict austerity measures the third-largest economy in the euro area have caused a painful decline in its economy. The Italian central bank expects a weakening of the gross domestic product (GDP) this year is equal to two percent and the credit rating agency Fitch predicts a fall of 1.9 percent.

Tomáš Králíček, kralicek@mediafax.cz

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Agentura Fitch potvrdila Itálii rating na stupni A-

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