DBRS could downgrade Italy

DBRS said it placed the Republic of Italy’s A (low) long-term foreign and local currency issuer ratings under review with negative implications and confirmed the short-term foreign and local currency issuer ratings at R-1 (low) with a stable trend.

This action reflects the agency’s assessment that the combination of political uncertainty surrounding a forthcoming constitutional referendum and pressure on Italian banks, amid a fragile recovery and a less stable external environment, pose downside risks to the ratings.

Over the coming months, DBRS said it will assess these risks and to what extent they may adversely affect Italy’s efforts to stabilize its public debt.

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