Europeans of debt ratings, promotion in sight for Portugal and then (perhaps) Italy

Pending Fitch’s ruling tonight, Moody’s could improve Italy’s rating in the coming quarters if the NextGen-related reform plan is approved and “grounded”. But the first promotion on sovereign ratings in Europe will likely go to Portugal. The economists of the US investment bank Citi are convinced of this and, in a report, highlight why compared to the previous crisis of 2008-2009 “this time the perspective of the Eurozone is different”.

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