Italy: S&P rating review in focus - TDS

According to analysts at TD Securities, S&P is due to review Italy’s BBB (negative) sovereign rating today as currently, S&P is in line with Fitch’s BBB (negative) rating and a notch above Moody’s Baa3 (stable) rating.

Key Quotes

“Given that the rating agency already reviewed Italy’s rating back in October, we think its more likely for them to keep their rating unchanged today (as seen in the case of Fitch and Moody’s in Q1). Even if we do see a downgrade, the rating should not have any index implications for the Italian bond market.”