Fitch downgrades Italian regions

Agency moved Italy's down one notch last week

Fitch downgrades Italian regions

Rome, March 13 - Fitch on Tuesday downgraded its credit rating for most of Italy's regional and provincial governments and city councils. The move comes after Fitch cut the Italian State's credit rating from A- to BBB+, with a negative outlook, last week due to the "inconclusive result" of Italy's general election last month. In most cases, including the cities of Rome and Milan, the downgrade was the same as Italy's demotion of one notch, from A- to BBB+. The exceptions are the regions of Valle D'Aosta, Friuli Venezia Giulia and Lazio and the province of Bolzano and Trento, which were downgraded two notches.

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