Italy's 1-yr borrowing costs hit 4-month high at auction

MILAN, July 10 Wed Jul 10, 2013 5:14am EDT

MILAN, July 10 (Reuters) - Italy's one-year debt costs hit their highest level in four months at an auction on Wednesday, after Standard & Poor's cut Italy's sovereign rating to one notch above junk.

One-year borrowing costs rose to 1.078 percent on Wednesday, reaching their highest level since March 2013.

The treasury paid 0.962 percent at a similar bill sale just one month ago.

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