Rating agency Fitch downgraded the sovereign rating of Italy's foreign and local currency 'AA' from 'A +' with a negative outlook. Rating lowered from Spain "AA +" to "AA-" and with a negative outlook. The decision reflects the evolution of the debt crisis in the eurozone.
Fitch lowered the credit rating of Italy with the 'AA' from 'A +', Short-term issuer default rating downgraded to "F1 +" to "F1". "The downgrade reflects the increasing crisis in the eurozone, which contains a significant financial and economic shocks, the sovereign risk profile weakened in Italy," - experts said Fitch. National debt Italy's third largest economy of the EU, reached the mark of € 1,9 trillion (120% of GDP), exceeding the total debt of Greece, Spain, Portugal and Ireland. Economic growth in the country remains weak last ten years.
Long-term rating downgraded from Spain, "AA +" to "AA-" with negative implications. Fitch analysts noted an increase in risk for the process of fiscal consolidation in Spain because of budget indicators in individual regions.
Recall, October 5, rating agency Moody `s has lowered the credit rating of Italy just three steps - from Aa2 to A2 c negative implications, applying such sanctions for the first time since 1993. Such a sharp downgrade Moody `s explain" a significant increase in long-term risks in raising funds for countries with high debt, such as Italy. These risks are the result of a long and noncyclic declining confidence in all Eurozone fiscal space and the ongoing debt crisis of the sovereign. " Earlier, September 21 Standard & Poor's downgraded Italy's unexpected from A + to A, giving another boost to the debt crisis in the euro area.
Fitch lowered the credit rating of Italy with the 'AA' from 'A +', Short-term issuer default rating downgraded to "F1 +" to "F1". "The downgrade reflects the increasing crisis in the eurozone, which contains a significant financial and economic shocks, the sovereign risk profile weakened in Italy," - experts said Fitch. National debt Italy's third largest economy of the EU, reached the mark of € 1,9 trillion (120% of GDP), exceeding the total debt of Greece, Spain, Portugal and Ireland. Economic growth in the country remains weak last ten years.
Long-term rating downgraded from Spain, "AA +" to "AA-" with negative implications. Fitch analysts noted an increase in risk for the process of fiscal consolidation in Spain because of budget indicators in individual regions.
Recall, October 5, rating agency Moody `s has lowered the credit rating of Italy just three steps - from Aa2 to A2 c negative implications, applying such sanctions for the first time since 1993. Such a sharp downgrade Moody `s explain" a significant increase in long-term risks in raising funds for countries with high debt, such as Italy. These risks are the result of a long and noncyclic declining confidence in all Eurozone fiscal space and the ongoing debt crisis of the sovereign. " Earlier, September 21 Standard & Poor's downgraded Italy's unexpected from A + to A, giving another boost to the debt crisis in the euro area.
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