Fitch leaves Italian corporates' ratings unchanged

Fitch Ratings said the ratings of Fiat SpA, Finmeccanica SpA, Telecom Italia SpA and Wind Telecomunicazioni SpA are unchanged following the agency's downgrade of Italy's sovereign rating to A-/outlook negative from A+/Rating Watch negative.

The agency said that generally, both issuer default rating and senior debt ratings of corporates within the eurozone may exceed the local sovereign rating, subject to the AAA eurozone country ceiling for all issuers.

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