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Fitch keeps outlook negative, 'Renzi faces same problems'

Letta's resignation highlights 'volatility of Italian politics'

17 February, 17:18
Fitch keeps outlook negative, 'Renzi faces same problems' (see related stories) (ANSA) - Rome, February 17 - Ratings agency Fitch said Monday it was keeping a negative outlook for Italy with a BBB+ rating, saying premier-designate Matteo Renzi "will probably have the same problems as his predecessor" in pushing through reforms if he manages to form a new government. Fitch said the resignation of outgoing Premier Enrico Letta on Friday highlighted the "volatility of Italian politics" pointing out that Renzi was set to be the country's fourth premier since November 2011.

Democratic Party (PD) chief Matteo Renzi was handed a mandate to form a new government on Monday after he told Italy's biggest party to pull its support for his PD colleague Letta on Thursday.

Fitch said that Italy's growth prospects remained weak, but added that its credit rating would benefit if Renzi does manage to usher in "structural reforms".