Moody's Continues Review Of Italy's Aa2 Ratings For Possible Downgrade, To Conclude Review Within Next Month

Tyler Durden's picture

Moody's continues review of Italy's Aa2 ratings for possible downgrade
Frankfurt am Main, September 16, 2011 -- Moody's Investors Service is continuing its review for possible downgrade of Italy's Aa2 local and foreign currency government bond ratings.
Moody's initially placed Italy's bond ratings on review for possible downgrade on 17 June 2011. The main drivers that prompted the rating review are:
(1) Economic growth challenges due to macroeconomic structural weaknesses and a likely rise in interest rates over time;
(2) Implementation risks surrounding the fiscal consolidation plans that are required to reduce Italy's stock of debt and keep it at affordable levels; and
(3) Risks posed by changing funding conditions for European sovereigns with high levels of debt.
In light of the increasingly challenging economic and financial environment and fluid political developments in the euro area, Moody's is continuing to evaluate Italy's local and foreign currency bond ratings in the context of the risks identified. Moody's will strive to conclude the review within the next month.


Translation: Italian headline risk is not going away for quite some time

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bugs_'s picture

Don't make us "conclude" you too

DoChenRollingBearing's picture

The contagion spreads...

HedgeAccordingly's picture

last half hour of each day this week we had a rush of buying/short covering.. one must surmize bernanke has has something huge up his sleeve because there will be a lot of dry powder to short any piker moves.

Dick Darlington's picture

Moody's just don't have the balls. Simple as that. Italy Aa2, really? Uh huh...

EscapeKey's picture

CCC is already priced in.

spiral galaxy's picture

Quick! "Torque" the printing press!  ........annnnd........."Quantitatively" determine how much $$$ will be needed to bailout the wuuurld!  "Ease" the flow of funds into soveriegn banks!!  "Three", "Four", "Five"..........."nth"....number of "easings" will occur!!! So all you broke, polticially inempt countries -- step right up and get a helping of good 'ol U.S. funds!!!  No collateral necesary!!! No strings attached!!! No oversight implemented!!!  And definitely no repayment is required!!!

There! Problem solved!! Back to the Emmy's and all import "realities' showing on TV!!!

SumSUN's picture

Why do the rating agencies find it so hard to rate debt?  It all sucks!

dasein211's picture

Its like telling that blyatch fucking you and giving you blowjobs and reach arounds that shes one ugly tramp.

DeadOnArrival's picture

This planet needs some new countries.  All of ours are broken.

dasein211's picture

I think rosie is spot on. The is bernankes last shot. If he fails he fails shooting the biggest liquidity load ever.... And greece will STILL default. Everyone knows it. The earthquake has happened and there's a massive tsunami warning. Things. Will. Get. Crazy.

nah's picture

maybe italy can come up with another $134 billion in US Treasury bearer bonds again

Sequitur's picture

I've always viewed Italy as "the big one." Not even Germany can cover Italy's debts.

oogs66's picture

in light of being scared to death of getting fired or arrested we have delayed saying anything that what we were supposed to do Mr. Buffett?

Yen Cross's picture

 Angela and Nickolas, need to do a hot tub promo...  The covering reporter should be none other than ( Deven Sharma) ...

John Bigboote's picture

OT: NASA says you have a 1 in 3200 chance of being killed by the UARS falling satellite next week. That seems low. I do know that if I had the same odds for the lottery I would double down big time.

RealFinney's picture

Thats a 1 in 3,200 chance of someone being killed by the satelite, then there's a 1 in 6,500,000,000 that the person is you.

max2205's picture

Did S&P get gagged or did someone take away their calculators!

no life's picture


disabledvet's picture

Just in: this vid of actual Moody's ratings Agency "downgrade-bots" downgrading and doing various other office work:
and here's another shot outside the office:
these guy's get around!
and here's they are executing on a downgrade:

apu123's picture

Somehow I think the CBs and the FED will find a way to pretend and extend the European situation at least until spring.  Every time it looks like the situation is going to go over the cliff some perfectly timed rumor or half baked action saves the day.  I think the FED will announce a LSAP program, and sometime later the Chinese (as some have suggested).  This would fuel the stock market/equities "rally" further saving many bonuses in the process.  Think about what you would get, large corporations basically owned by the FED and the Chinese, there is a recipe for success!

Off the subject, a couple of weeks ago I was speaking with a guy at Merrill and was joking about the CDS spread BofA was sporting, he got really defensive and asked where I heard that.  I told him  it is a well known fact, then he recommended I buy some BNP.  I felt it was a bit Kafkaesque, maybe BofA should start a narc website like Obama to get to the bottom of those nasty "smears"


PaperBugsBurn's picture

So basically it's the BRICS and Europe against the dollar and the US banksters killing the euro replacement.

I am sure it will not end well.

Appropiately, GOLD, bitchez!

Bithead1's picture

She's a witch....burn her, burn her.


nmewn's picture

Ehhh!!!...whats a matter for you?

Dis is a good paper here...da finest...we gotta the Spanish paper as a da collateral. Hey Vito!...get me my ice pick!

lolmao500's picture

And how much toxic Italian bonds do big banks in Europe and America have?

If Italy goes down, kaboom! It's much bigger than Greece.