Moody's downgrades Italy a couple of notches

Spread and yield rise

Moody's downgrades Italy a couple of notches

(ANSA) - Rome, July 13 - Moody's downgraded Italian bonds by two notches from A3 to Baa2 Thursday. The ratings agency said the political climate was increasing risks amid the euro crisis. Italy's outlook remained negative. The spread between Italian and German 10-year bonds rose to 485 points from 474 points at Friday's opening and 466 at Thursday's close after the double downgrade. The yield went over the psychologically important 6% threshold, at 6.066%, after opening up at 5.9%. The Milan bourse showed a 0.4% loss in heavy trading in which banks were hard hit.

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