March 24, 2010 / 12:06 PM / 9 years ago

Fitch sees stable Italy rating in next 12-18 mths

MILAN, March 24 (Reuters) - Italy’s “AA-“ rating with stable outlook will remain in place for the next 12-18 months, Fitch analyst Raffaele Carnevale told Reuters on Wednesday.

“It will be important in this period to check whether policies will be aimed at reducing the deficit to around 3 percent of GDP by 2011-2012 from the 5.3 percent of 2009,” he said.

On Wednesday Fitch cut Portugal’s soverign rating to “AA-“ from “AA” with negative outlook.

Reporting by Gabriella Bruschi, writing by Stephen Jewkes

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