1 Min Read
ROME, Jan 13 (Reuters) - Ratings agency DBRS on Friday cut Italy's sovereign credit rating to BBB (high) from A (low) in a move which could raise borrowing costs for struggling Italian banks.
DBRS, the only major agency who had a rating in the A band for Italy, said its decision reflected uncertainty over the country's ability to pass reforms, continuing weakness in the banking system, and fragile growth.
It attached a stable trend to its new BBB (high) rating. (Reporting By Gavin Jones, editing by Steve Scherer)