Fitch says Italy’s rating threatened by instability

(ANSA) – Rome, October 25 – Fitch said Friday that political instability, and the possibility of economic and budget policies being paralysed, posed a threat to Italy’s sovereign debt rating. The agency said in a statement that, for the moment, it was maintaining Italy’s BBB+ rating with a negative outlook.

It also had encouraging news for Premier Enrico Letta and this fragile left-right government though. It said “Italy has made fundamental steps forward” with regards to putting its public finances in order and said it expected the country’s longest recession in over two decades to be finished by the end of the year.