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    September 19, 2011

S&P Cuts Italy's Credit Rating

   VOA News

   Standard & Poors has cut Italy's credit rating, citing weak economic
   growth and political uncertainty.
   The credit rating agency cut Italy's rating one notch Monday - from A+
   to A.
   S&P said the country's shaky coalition government and differences in
   parliament limit Italy's ability to act against its ballooning debt and
   ability to slash spending.
   The agency also gave Italy a negative outlook, forecasting weak
   economic growth.
   Low credit ratings often scare away investors, who see lower-rated
   government bonds as risky.

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