September 10, 2019 / 9:41 AM / 10 days ago

Italy's new government brings political stability: Moody's

MILAN (Reuters) - Credit rating agency Moody’s welcomed the arrival of a new ruling coalition in Italy, saying it should provide some political stability and allow Rome to submit its 2020 budget on schedule.

Moody’s Investors Service made no changes to Italy’s ‘Baa3’ long-term rating and its stable outlook on Friday, when a periodic review of the rating was due.

On Tuesday, in a credit opinion which does not constitute a rating action, Moody’s said it expected the coalition comprising the center-left PD party and the 5-Star Movement to be less euro sceptical and better cooperate with the European Commission and fellow European countries - a credit positive factor.

Reporting by Valentina Za

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