Italy’s economic rating drops

Moody’s has reduced the rating of Italian sovereign bonds from A3 to Baa2 with a negative forecast, RIA Novosti reports.

Italy is likely to face economic complications in the near future, such as additional expenses for consolidation of debt and loss of markets. The risk is greater than it was 5 months ago.

Moody’s points out that the negative short-term forecast was caused by poor economic growth and increasing unemployment.