Roma, 19 ott. - Standard & Poor's ha deciso di declassare il rating a lungo termine della Repubblica italiana ad 'A+' da 'AA-'. L'agenzia ha invece confermato il voto 'A1+' sul breve termine. Stabile l'outlook. "Il declassamento", spiega Moritz Kraemer, "riflette l'inadeguatezza della risposta data dal nuovo governo ai problemi strutturali economici e di bilancio dell'Italia".
S&P today cut Italy's rating to A+, the second-lowest of the dozen nations using the euro after Greece. Italy became the only euro country to suffer two rating reductions since the start of the single currency in 1999. Fitch trimmed to AA- from AA. The decision comes at a time rising European interest are raising debt financing costs and sent Italy's bonds lower.
``Ironically, to the extent that it raises Italy's borrowing costs, the downgrade makes it more difficult to reduce the debt and deficit,'' said Marc Chandler, global head of currency strategy at Brown Brothers Harriman & Co. in New York.
The yield premium investors demand to buy Italian 10-year government bonds compared with benchmark German 10-year debt rose to 27.5 basis points, from 26.6 basis points late yesterday, the biggest increase in a month. Italy's 3.75 percent note due in August 2016 yielded 4.09 percent at 11:47.
The perceived risk of owning Italian government bonds increased, as reflected in a gain of about 15 percent in the price of credit-default swap contracts used to speculate on Italy's ability to pay its debts.
The cost of the contracts increased by about 1.5 basis points to 9.6 basis points, according to Deutsche Bank AG.
``The S&P downgrade to A+ definitely wasn't expected and so the impact was greater than when Fitch cut,'' said Marcus Schueler, head of integrated credit marketing at Deutsche Bank in London.