Moody’s Ratings has upgraded Italy’s long-term issuer and senior unsecured ratings to Baa2 from Baa3 and the foreign-currency senior unsecured shelf and MTN programme ratings to (P)Baa2 from (P)Baa3.
This is the first upgrade for the country by Moody’s in over 23 years.
The outlook was changed to stable from positive.
The upgrade reflects a consistent track-record of political and policy stability.