Citigroup said that S&P may upgrade Italy's rating to A- on Friday. This will be the first time since the Eurozone sovereign debt crisis more than ten years ago that Italy has received this rating from any mainstream rating agency. S&P adjusted Italy's rating outlook to positive in January; Italy's current rating is BBB+, which is on par with Fitch and one level higher than Moody's. Citigroup strategist Jamie Searle and others wrote in the report: “Our economic team believes there is a possibility of an increase, but due to the recent rise in treasury bond yields, S&P may also choose to suspend action and wait until Italy's fiscal policy is clear before next year's general election.” The strategist added that the market impact of this potential increase is “limited.” Although Italy will exit the excessive deficit process next year, its debt ratio remains high in the Eurozone.

Citigroup said that S&P may upgrade Italy's rating to A- on Friday. This will be the first time since the Eurozone sovereign debt crisis more than ten years ago that Italy has received this rating from any mainstream rating agency. S&P adjusted Italy's rating outlook to positive in January; Italy's current rating is BBB+, which is on par with Fitch and one level higher than Moody's. Citigroup strategist Jamie Searle and others wrote in the report: “Our economic team believes there is a possibility of an increase, but due to the recent rise in treasury bond yields, S&P may also choose to suspend action and wait until Italy's fiscal policy is clear before next year's general election.” The strategist added that the market impact of this potential increase is “limited.” Although Italy will exit the excessive deficit process next year, its debt ratio remains high in the Eurozone.