Fitch raises Italy’s rating from BBB- to BBB, outlook stable – nach Welt

From the point of view of the markets, the appreciation announced by Fitch on Friday evening confirms the change in the sign of our national debt. The decision to return the rating to triple B with a stable outlook concludes an autumn audit calendar, which was characterized by the improvement in the outlook communicated by Standard & Poor’s in October (from stable to positive, with triple B) and which received two confirmations Moody’s (Baa3 with stable outlook) and Dbrs (BBB high, negative outlook). And above all, it brings back the full support to the Italian debt scene that had been missing since autumn 2017, when then Prime Minister Paolo Gentiloni and Economics Minister Pier Carlo Padoan cashed in on the upgrade from Standard & Poor’s.

With yesterday’s move, Fitch is using what it had written on our government bonds in addition to the BBB in 2020, when it was the only one of the big four with a non-calendar rating to decide to surprise the alarm at the BTp of an Italy and then completely block it.

As a result, the agency confirmed the verdict twice, with testimonies full of alarms about the real possibilities of confiscation in the country and the resulting debts on the accounts. All of these elements nourish the importance of yesterday’s change of course, of the government’s satisfaction with the Mef’s expressed satisfaction.

The Mef: Solidity of Italian economic policy confirmed

“Fitch’s decision crowns a number of positive reviews from five other rating agencies that have improved their outlook on the country in recent weeks. Among these, it is useful to remember S&P, DBRS and Scope Ratings – Declaration by Via XX Settembre – These decisions confirm the soundness of the government’s economic policies and the need to vigorously pursue the path of reforms and investments, they plan . agreed with Europe ”.

When a report from the agency two weeks ago highlighted the role of growth and the critical nature of the combination of investment and reform underpinning the stimulus plan to consolidate it, there was some anticipation. Apparently sad words, but not for a country that, after witnessing an unexpected decline in the debt-to-GDP ratio in the Nadef in the same days, saw its GDP increase by decimal in the first nine months of the year too decimal. (The latest Istat data shows an annual growth of 6.3%) at a level far from the 4.5% calculated in April. Key figures that put Italy in the unusual position of the rabbit in Europe and convinced Fitch analysts to take the step, despite the unknowns that have multiplied in recent weeks from the pandemic recovery and inflationary awakening that is now the Has lost connotations of improvised fire.

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