Fitch Affirms Italy at 'BBB'; Outlook Negative

From fitchratings.com

Italy's 'BBB' rating and Negative Outlook reflect the extremely high level of general government debt, very low trend GDP growth, policy risk and uncertainty arising from the current political dynamic and associated downside risks to our public debt projections. The relatively high net external debt and still-weak banking sector asset quality also weighs on the rating. The rating is supported by a diversified, high value-added economy, with GNI per capita, governance and human development indicators much stronger than the peer group medians. Italy also has moderate private sector indebtedness, a sustainable public ... (full story)