Moody’s changes the forecast on the Italian government from stable to negative while confirming the rating at Baa3. This is what we read in a note from the rating agency. “The end of the Draghi government and the early elections on September 25 increase political and programmatic uncertainty in a difficult economic and market environment,” Moody’s said in a statement. “The outgoing government has made significant progress in fully and punctually respecting the milestones and objectives contained in the NRP – claims the rating agency – However, early elections are likely to delay the achievement of some milestones and objectives that had to be achieved by the end of 2022; these results are necessary to unlock access to the next tranche of financing, which amounts to 19 billion euros (1.0% of GDP). 2023 may be delayed “.
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