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Moody's extends review of Italy's rating, waiting for greater clarity on fiscal path

Published 08/20/2018, 01:40 PM
© Reuters.  Moody's extends review of Italy's rating, waiting for greater clarity on fiscal path
EWI
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FLIY
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  • Moody's, the credit ratings company, is extending its review of Italy's Baa2 rating beyond the typical three-month timeframe so it can get "better visibility on the country's policy direction."
  • Moody's placed the rating on review for downgrade on May 25, 2018 and is now likely to conclude it by the end of October, Moody's said. Baa2 is the second-lowest investment grade rating.
  • Italy must submit an update to its annual Economic and Financial Document--which includes the government's forecasts and policy plans for the next three years--to Italy's parliament by Sept. 27. It's also required to give outlines of its draft budget for 2019 to the European Commission by Oct. 15.
  • ETFs: EWI, HEWI, DBIT, FLIY
  • Previously: Italy's economy minister sees higher deficit (Aug. 8)
  • Now read: The ECB's Twisting Time Is Here


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