S&P may cut Rome's A-plus bond rating

Discussion in 'Wall St. News' started by ASusilovic, May 28, 2010.

  1. May 27 (Reuters) - Standard & Poor's may cut Rome's long-term issuer credit rating, the firm said on Thursday, saying it was concerned about the Italian capital's ability to generate revenue.

    S&P placed Rome's A-plus rating, the fifth-highest, on negative credit watch, suggesting a potential rating cut.

    S&P said the change was prompted by a package of fiscal measures for the city, which was approved by the Italian council of ministers on Tuesday.

    Italy joined other European nations in adopting austerity measures, approving 24 billion euros of deficit-reducing cuts that target public workers and local government

  2. I was in Rome in March and read a article in a local news paper that talked about Lazio's "debito occulte" or hidden debt. The municipality used a swap structure to mask a substantial sum of debt.
  3. moarla


    all major italian city´s did that.
    and they are all under water lol
  4. Daal


    S&P needs to be exorcised
  5. Was it Goldman's work?
  6. Daal


    No it was God's work, but I guess thats the same thing
  7. Coolio


    Hmmm, I wonder what Vatican City's debt rating is? Maybe the Vatican can pick up Rome at a a cheap price.