S&P downgrades Italy's credit rating a notch

Standard & Poor’s Ratings Services on Monday downgraded Italy’s credit rating by one notch, saying it sees weakening economic growth prospects for the European nation and higher-than-expected levels of government debt.

The ratings firm cut Italy’s long- and short-term sovereign credit ratings to “A/A-1” from “A+/A-1+.” The rating is still five steps


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