S&P downgrades Italy’s Sovereign Credit Rating to A from A+, outlook negative

Posted by Kendall Harmon

The agency said the country's net general government debt is the highest among A-rated sovereigns, and now expects it to peak later and at a higher level than it previously anticipated.

“In our view, Italy’s economic growth prospects are weakening and we expect that Italy’s fragile governing coalition and policy differences within parliament will continue to limit the government’s ability to respond decisively to domestic and external macroeconomic challenges,” S&P said in a statement.

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Filed under: * Culture-WatchGlobalization* Economics, PoliticsEconomyEuroEuropean Central BankThe Banking System/Sector* International News & CommentaryEurope--European Sovereign Debt Crisis of 2010FranceGermanyGreeceItaly

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Posted September 19, 2011 at 6:00 pm

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