Italy Cut to One Step Above Junk by Moody's in Wake of Bond Rout
The Italian national flag, left, flies alongside the European Union flag (EU) at the Banca d’Italia, the Italian central bank, in Rome, Italy. (Photographer: Alessandra Benedetti/Bloomberg)

Italy Cut to One Step Above Junk by Moody's in Wake of Bond Rout

(Bloomberg) -- Italy’s credit rating was cut by Moody’s Investors Service to one level above junk on concerns about the nation’s fiscal strength and the stalling of plans for structural reform.
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