Ratings agency Moody's has noted the possibility of an upgrade to Italy's credit rating. She pointed out that the improvement in financial performance and the stability of the political scene under Prime Minister Georgia Meloni have contributed to changing the outlook to "positive".
Although the rating remains at Baa3, just one notch above the Non-Investment Rating (Junk), the revision reflects growing confidence in the government's ability to reduce the fiscal deficit below the 3 percent of GDP ceiling by next year, which is in line with EU standards.
According to Moody's, "the improved fiscal outlook in light of the better-than-expected fiscal performance in 2024, coupled with the stability of the domestic political environment, enhances the prospects for continued improvement in financial indicators."
Source (Al-Arabiya.net Website, Edited)
