Fitch Downgrades Sovereign Ratings Of Italy And Spain

October, 8, according to foreign reports fitch (Fitch) on Friday, the rating outlook was negative in view of the intensification of the European sovereign debt crisis and the downgrading of Italy and Spain's sovereignty.

Fitch Ratings Friday lowered Italy's long-term foreign currency and local currency issuer default rating (IDR) from the previous AA- to A+, the rating outlook was negative, and reduced the short-term foreign currency and local currency issuer's default rating from F1+ to F1. Fitch said the reason for the downgrade is exacerbation of the euro zone crisis, which has brought huge financial and economic shocks to Italy. sovereignty Risk situation.

Fitch also downgraded Spain's sovereign rating by accident. Fitch has lowered Spain's sovereign rating from "AA+" to "AA-", and the rating outlook is also negative. Fitch points out that the move also reflects euro zone debt. crisis The intensification has had a negative impact on the whole eurozone. At the same time, as Spain's economic growth prospects tend to dim, the country's fiscal consolidation risks are also increasing.