Moody's downgrades Italy by two notches, warns might cut further

ITALY-RATINGS:Moody's downgrades Italy by two notches, warns might cut further

 

Moody's Investors Service on Friday downgraded Italy's government bond rating by two notches to Baa2 from A3, and warned it could cut it further given the country's deteriorating economic outlook.

Moody's added that Italy's Prime-2 short-term rating had not changed.