S&P leaves Italy credit rating at BBB, changes outlook to 'negative'
S&P Global Ratings changed the outlook on Italy's sovereign credit rating to "negative" from "stable", leaving its debt rating at BBB, two notches above sub-investment grade. A negative outlook can be a prelude to a ratings cut, even if the timing of the downgrade can vary. S&P's decision will give relief to investors who had speculated S&P would follow Moody's example by downgrading Italy's credit rating by one notch. This comes as Italy butts heads with the European Union over the size of its projected fiscal deficit in the upcoming 2019 budget. The 10-year Italian government bond yield TMBMKIT-10 Y, -1.76% last traded at 3.434%, according to Tradeweb data.
Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.Source: Google News Italy | Netizen 24 Italy