S&P downgrades Italy to 'BBB', outlook negative

GMT 23:07 2013 Tuesday ,09 July

Arab Today, arab today S&P downgrades Italy to \'BBB\', outlook negative

Arab Today

Ratings agency Standard and Poor's on Tuesday downgraded the sovereign rating of crisis-hit Italy by one notch to 'BBB' on worries over the country's ability to resist effects of a dilapidating recession. Italy's debt rating was also hit with a negative outlook, meaning the agency does not exclude a further downgrade in the near-term.

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