Moody's affirms Italy's credit rating and upgrades outlook

The US ratings agency Moody’s announced Friday it had affirmed Italy’s credit rating at Baa3, and upgraded the country’s outlook to “stable” from “negative,” citing its significant economic strengths.

“The decision to change the outlook to stable from negative reflects a stabilization of prospects for the country’s economic strength, the health of its banking sector and the government’s debt dynamics,” Moody’s said in a statement.

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