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US credit rating agency Moody's has just given Italy a Baa3 rating and raised the country's outlook from "negative" to "stable".
Moody's said the change in outlook reflects Italy's economic stability and the strength of its banking sector. Italy's medium-term economic outlook has continued to improve, supported by the implementation of the National Recovery and Resilience Plan (NRRP). Risks to energy supplies have eased, in part due to strong government policy action.
Moody's, along with ratings agencies Fitch and S&P Global Ratings, reaffirmed Italy's investment grade rating in recent weeks, providing a much-needed boost to the economic plans put forward by Prime Minister Giorgia Meloni's far-right government.
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