Rating at risk if referendum No - Fitch (2)

(ANSA) - Rome, September 13 - A No in the referendum on a reform of Italy's political machinery would be seen "as a negative shock for the economy and the Italian credit rating," Fitch's head of sovereign ratings for Europe and the Middle East, Edward Parker, said Tuesday. "Any political turbulence or problems in the banking sector that may have repercussions on the real economy or on public debt could lead to a negative intervention on Italy's rating," he added. Italy is set to vote in late November or early December on the reform that would turn the Senate into a leaner, regionally based assembly with limited lawmaking powers, cutting gridlock and expenses. A No vote would have a knock-on effect on the government of Premier Matteo Renzi, who initially said he would quit if the reform was defeated but has recently hinted that would no longer be so.
    Italy's business leaders have come out strongly for a Yes vote.