Current Italy credit ratings, according to the main rating agencies, provide a snapshot of the country’s creditworthiness and financial stability. These ratings are critical for understanding how international and domestic investors perceive Italy ability to honor its financial commitments.
The ratings are determined by comprehensive evaluations conducted by major credit rating agencies such as Standard & Poor's (S&P), Moody's, and Fitch Ratings. Each of these agencies uses a distinct rating scale and methodology to assess the economic and financial health of Italy, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.
The table below shows the current Italy credit ratings, according to the main rating agencies.
| Rating Agency | Rating | Outlook | Last Update | Action |
|---|---|---|---|---|
| Standard & Poor's | BBB | - | 27 Jul 2022 | outlook downgrade |
| Moody's Investors Service | Baa3 | - | 18 Nov 2023 | outlook upgrade |
| Fitch Ratings | BBB | - | 6 Dec 2021 | rating upgrade |
| DBRS | BBB (high) | - | 1 Nov 2021 | outlook upgrade |
Italy: Long-term Rating Scales Comparison
Italy long-term credit ratings, as assigned by major rating agencies, offer a comparative insight into the country's creditworthiness over an extended period. Each rating agency uses its own scale to evaluate the credit risk associated with Italy sovereign debt. These scales help investors understand the likelihood that Italy will meet its financial obligations.
Symbol means a negative outlook.
| Grade | Description | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|---|
|
Investment Grade |
Prime |
AAA
|
Aaa
|
AAA
|
AAA
|
| High Medium Grade |
AA+
|
Aa1
|
AA+
|
AA(high)
|
|
|
AA
|
Aa2
|
AA
|
AA
|
||
|
AA-
|
Aa3
|
AA-
|
AA(low)
|
||
| Upper Medium Grade |
A+
|
A1
|
A+
|
A(high)
|
|
|
A
|
A2
|
A
|
A
|
||
|
A-
|
A3
|
A-
|
A(low)
|
||
| Lower Medium Grade |
BBB+
|
Baa1
|
BBB+
|
BBB(high)
|
|
|
BBB
|
Baa2
|
BBB
|
BBB
|
||
|
BBB-
|
Baa3
|
BBB-
|
BBB(low)
|
||
|
Speculative Grade |
Speculative |
BB+
|
Ba1
|
BB+
|
BB(high)
|
|
BB
|
Ba2
|
BB
|
BB
|
||
|
BB-
|
Ba3
|
BB-
|
BB(low)
|
||
| Highly Speculative |
B+
|
B1
|
B+
|
B(high)
|
|
|
B
|
B2
|
B
|
B
|
||
|
B-
|
B3
|
B-
|
B(low)
|
||
| Substantial Risk |
CCC+
|
Caa1
|
CCC+
|
CCC(high)
|
|
|
CCC
|
Caa2
|
CCC
|
CCC
|
||
|
CCC-
|
Caa3
|
CCC-
|
CCC(low)
|
||
| Extremely Speculative |
CC
|
Ca
|
CC
|
CC
|
|
|
C
|
C
|
C
|
C
|
||
| In Default |
RD
|
/
|
RD
|
RD
|
|
|
SD
|
/
|
SD
|
SD
|
||
|
D•NR
|
D•NR
|
D•NR
|
D•NR
|
||
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Italy Credit Ratings historical data
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
| Date | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|
| 18 Nov 2023 | Baa3 | |||
| 8 Aug 2022 | Baa3 | |||
| 27 Jul 2022 | BBB | |||
| 6 Dec 2021 | BBB | |||
| 1 Nov 2021 | BBB (high) | |||
| 26 Oct 2021 | BBB | |||
| 24 Oct 2020 | BBB | |||
| 11 May 2020 | BBB (high) | |||
| 29 Apr 2020 | BBB- | |||
| 27 Oct 2018 | BBB | |||
| 20 Oct 2018 | Baa3 | |||
| 31 Aug 2018 | BBB | |||
| 25 May 2018 | Baa2 | |||
| 27 Oct 2017 | BBB | |||
| 21 Apr 2017 | BBB | |||
| 13 Jan 2017 | BBB (high) | |||
| 7 Dec 2016 | Baa2 | |||
| 21 Oct 2016 | BBB+ | |||
| 5 Aug 2016 | A (low) | |||
| 5 Dec 2014 | BBB- | |||
| 25 Apr 2014 | BBB+ | |||
| 14 Feb 2014 | Baa2 | |||
| 9 Jul 2013 | BBB | |||
| 8 Mar 2013 | BBB+ | |||
| 6 Mar 2013 | A (low) | |||
| 8 Aug 2012 | A | |||
| 13 Jul 2012 | Baa2 | |||
| 22 May 2012 | A (high) | |||
| 13 Feb 2012 | A3 | |||
| 27 Jan 2012 | A- | |||
| 13 Jan 2012 | BBB+ | |||
| 9 Nov 2011 | A (high) | |||
| 7 Oct 2011 | A+ | |||
| 4 Oct 2011 | A2 | |||
| 19 Sep 2011 | A | |||
| 17 Jun 2011 | Aa2 | |||
| 20 May 2011 | A+ | |||
| 3 Feb 2011 | AA (low) | |||
| 19 Oct 2006 | A+ | AA- | ||
| 8 Aug 2005 | AA- | |||
| 29 Jun 2005 | AA | |||
| 7 Jul 2004 | AA- | |||
| 15 Jan 2003 | AA | |||
| 17 Jun 2002 | AA | |||
| 15 May 2002 | Aa2 | |||
| 6 May 1998 | AA | |||
| 3 Jul 1996 | Aa3 | |||
| 1 May 1996 | A1 | |||
| 23 Feb 1995 | AA- | |||
| 3 Feb 1995 | AA | |||
| 10 Aug 1994 | AA | |||
| 1 Mar 1993 | AA | |||
| 25 Feb 1993 | Aa3 | |||
| 13 Aug 1992 | Aa3 | |||
| 6 May 1992 | AA+ | |||
| 1 Jul 1991 | Aa1 | |||
| 30 May 1991 | AA+ | |||
| 26 Jun 1989 | AA+ | |||
| 23 Nov 1988 | AA+ | |||
| 10 Oct 1986 | Aaa |
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