FX.co ★ Italy Gets First Moody’s Upgrade in 23 Years

On Friday, Moody's Investors Service upgraded Italy's sovereign credit rating, elevating it from "Baa3" to "Baa2" and adjusting the outlook from positive to stable. This significant upgrade, the first from Moody's in 23 years for Italy, reflects the nation's ongoing political and policy stability. Earlier this year, Fitch Ratings and S&P Global Ratings also upgraded Italy, affirming confidence in the eurozone's third-largest economy. Moody's noted, "Italy is effectively progressing with its National Recovery and Resilience Plan, leading all EU nations in the number of completed payment requests and fund disbursements." Regarding Italy's future, Moody's indicated that efforts to enhance public-sector efficiency and the overall business environment could bolster the nation's growth trajectory. S&P currently rates Italy at BBB+ with a stable outlook, while DBRS's most recent rating is A (low), also with a stable outlook.