Moody's downgrades rating forecast for Italy, Czech Republic and Slovakia


August 8, Fineko/ International rating agency Moody's has changed the outlook for the rating of the economies of Italy, Slovakia and the Czech Republic from ‘Stable’ to ‘Negative’.

ABC.AZ reports with reference to Agency's website that three countries’ issuer long–term ratings in foreign and national currencies were confirmed at the previous levels - Baa3, A2 and Aa3, respectively, the site says.

According to the agency's analysts, the "negative" outlook of the rating of the Czech Republic and Slovakia is conditioned with the fact that these countries are largely dependent on Russian energy carriers, whose supplies to EU countries have recently decreased.

The negative consequences of the events in Ukraine and internal political changes are indicated as reasons for the deterioration of Italy's rating forecast.