S & P leaves Italy's credit rating at BBB and changes its outlook to "negative"

S & P Global Ratings changed the outlook for Italy's sovereign debt rating from "stable" to "negative", with its debt rating equal to BBB, two-notch higher than inferior quality to the investment. A negative outlook may be the prelude to a reduction in ratings, although the timing of the degradation may vary. The S & P decision will relieve investors who had assumed that S & P would follow Moody's example by lowering Italy's credit rating one notch. This comes as Italy confronts the European Union in the face of the magnitude of its budget deficit projected in the next 2019 budget. The yield on 10-year Italian government bonds

TMBMKIT-10Y, -1.76%

last trading at 3.434%, according to Tradeweb data.

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