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Italy's Credit Rating Upgraded by Moody's After 21 Years

11/23/2025

50 8 Full Breakdown

Summary

Story summary

Moody's upgrades Italy's rating from Baa3 to Baa2, first upgrade since May 2002.
The decision cites budget discipline, with a 0.9% primary surplus this year and 1.9% by 2028.
The move breaks Moody's 12-month upgrade waiting rule.
Despite a projected 137.4% debt, the government aims to reduce it via Superbonus closure and exit from the EU deficit procedure.

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Story summary

Moody's upgrades Italy's rating from Baa3 to Baa2, first upgrade since May 2002.
The decision cites budget discipline, with a 0.9% primary surplus this year and 1.9% by 2028.
The move breaks Moody's 12-month upgrade waiting rule.
Despite a projected 137.4% debt, the government aims to reduce it via Superbonus closure and exit from the EU deficit procedure.