Covid impact: A pedestrian passes a closed bar in front of the Colosseum. Rome says, in its budget outlook, that in a worst-case scenario GDP may fall 10.5% this year and expand only 1.8% in 2021. — Bloomberg
ROME: S&P Global Ratings left Italy’s credit rating unchanged and raised the outlook to stable, making a downgrade toward junk level less likely and giving the country a respite as its government struggles to stem the impact of the second wave of the coronavirus.
S&P kept Italy’s rating at BBB, two notches above junk, and raised the outlook from negative.
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