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Fitch cuts Italy, Spain ratings, outlook negative
Oct 7th, 2011 11:50 by News

07-Oct (Reuters) — Fitch on Friday cut Italy’s sovereign credit rating by one notch and Spain’s by two, citing a worsening of the euro zone debt crisis and a risk of fiscal slippage in both countries.

Fitch cut Italy’s rating to A+ from AA- and lowered Spain to AA- from AA+.

It kept both countries, respectively the third and fourth largest in the euro zone, on a negative outlook suggesting further downgrades could come in future.

[source]

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