January 9, 2019 / 10:16 AM / 6 months ago

Fitch positively surprised by Italy developments

LONDON, Jan 9 (Reuters) - Ratings agency Fitch has been positively surprised by developments in Italy in recent months, it said on Wednesday.

Fitch put Italy on a downgrade warning in late August when it cut the outlook of the country’s BBB rating to negative.

“Things in Italy have developed a little better than we expected in the last couple of months,” Fitch’s global head of sovereign ratings James McCormack said in London, citing improvements in relations with the European Commission. (Reporting by Helen Reid, Editing by Marc Jones)

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