Moody’s: Italy’s political turmoil will have limited impact on reform agenda
Political turmoil in Italy, with the departure of prime minister Mario Monti before the end of his term, will have limited impact on the country’s sovereign credit rating, according to rating agency Moody’s.
In a research note, the agency said Monti’s early departure will have little consequences on the country’s outlook.
Moreover, a victory of the centre-left PD party of Pierluigi Bersani, now leading in opinion polls, would result in the continuation of Monti’s reform agenda.
Moody’s rates Italy’s sovereign debt Baa2, two notches above junk, with a negative outlook.