Italy faces rating trial as Portugal passes test

Italy Wedding Cake 230x150
By Craig McGlashan
12 Jan 2017

Portugal found the best possible medicine to a rising fever in its bond yields by building a large order book on Wednesday for its first syndication of 2017. Attention now turns to Italy, which faces a crucial rating review by DBRS on Friday.

DBRS is the only one of the four rating agencies used by the European Central Bank in its appraisals of government bonds that rates Italy in single-A territory — specifically A(low). DBRS in August put Italy on negative watch, meaning if it downgrades Italy on Friday, the sovereign ...

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