Fitch raises Italy's rating outlook to stable

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Good news for Italy from the rating agency Fitch.

It has confirmed Rome’s sovereign debt rating at BBB+ but raised its outlook to stable from negative.

Prime Minister Matteo Renzi’s programme of structural reform was one reason given for the outlook change.

Fitch also cited the fact that Italy’s deep recession ended last year and Rome’s borrowing costs have fallen.

The rating remains at BBB+ because of still-high unemployment and Italy’s weak growth prospects.

with Reuters