Italy remains at two levels above junk at S&P Global Ratings after Giorgia Meloni’s government weathered the first of several possible assessments on its looser deficit prospects.
“The stable outlook balances our view of a slower budgetary consolidation than we previously expected, including due to increasing interest payments on large government debt, against the significant economic stimulus EU funds should provide,” S&P said in a statement confirming the country’s BBB rating.