Posted 11/17/2023, 2:30:17 PM
Moody's to Review Italy's Credit Rating, But Downgrade Seen as Unlikely
- Moody's will review Italy's credit rating on Friday; Italy is rated one notch above junk status currently
- A downgrade would likely cause Italian bond yields to surge, hurt banks' stocks, and weigh on the euro
- But analysts see a downgrade as unlikely, since Italy already survived reviews by other agencies
- Italy's economy is struggling, with stagnant GDP growth and rising debt levels
- Still, Italy's outlook is slightly better than when Moody's last turned negative, so no change may come