Analysts at Danske Bank note that yesterday, Moody’s postponed a possible downgrade of Italy as it extended the period that it has Italy on negative watch.
Key Quotes
“Italy was placed on negative watch back in May on the back of the new Italian government budget proposals.”
“The main reason for waiting is to get more clarity on the budget for 2019 before making rating changes. This highlights the critical nature of the budget, which is due to be presented in Italy next month.”
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