Italy Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Baa2 Stable | BBB+ Positive | BBB Positive | BBB (high) Positive | BBB+ Positive |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Jan 30, 2026 | S&P | BBB+ | Stable | BBB+ | Positive | |
| Nov 21, 2025 | Moody's | Baa3 | Positive | Baa2 | Stable | |
| Oct 31, 2025 | Scope Ratings | BBB+ | Stable | BBB+ | Positive | |
| May 23, 2025 | Moody's | Baa3 | Stable | Baa3 | Positive | |
| Apr 12, 2025 | S&P | BBB | Stable | BBB+ | Stable | |
| Oct 25, 2024 | DBRS | BBB (high) | Stable | BBB (high) | Positive | |
| Oct 18, 2024 | Fitch | BBB | Stable | BBB | Positive | |
| Nov 17, 2023 | Moody's | Baa3 | Negative | Baa3 | Stable | |
| Aug 08, 2022 | Moody's | Baa3 | Stable | Baa3 | Negative | |
| Jul 26, 2022 | S&P | BBB | Positive | BBB | Stable | |
| Dec 03, 2021 | Fitch | BBB- | Stable | BBB | Stable | |
| Oct 29, 2021 | DBRS | BBB (high) | Negative | BBB (high) | Stable | |
| Oct 22, 2021 | S&P | BBB | Stable | BBB | Positive | |
| Aug 20, 2021 | Scope Ratings | BBB+ | Negative | BBB+ | Stable | |
| Oct 23, 2020 | S&P | BBB | Negative | BBB | Stable | |
| May 15, 2020 | Scope Ratings | BBB+ | Stable | BBB+ | Negative | |
| May 08, 2020 | DBRS | BBB (high) | Stable | BBB (high) | Negative | |
| Apr 28, 2020 | Fitch | BBB | Negative | BBB- | Stable | |
| Dec 07, 2018 | Scope Ratings | A- | Negative | BBB+ | Stable | |
| Oct 26, 2018 | S&P | BBB | Stable | BBB | Negative |
Table Key
| Grade | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Prime | Aaa | AAA | AAA | AAA | AAA |
High Grade | Aa1 | AA+ | AA+ | AA (high) | AA+ |
Aa2 | AA | AA | AA | AA | |
Aa3 | AA- | AA- | AA (low) | AA- | |
Upper Medium Grade | A1 | A+ | A+ | A (high) | A+ |
A2 | A | A | A | A | |
A3 | A- | A- | A (low) | A- | |
Lower Medium Grade | Baa1 | BBB+ | BBB+ | BBB (high) | BBB+ |
Baa2 | BBB | BBB | BBB | BBB | |
Baa3 | BBB- | BBB- | BBB (low) | BBB- | |
Non-investment Grade Speculative | Ba1 | BB+ | BB+ | BB (high) | BB+ |
Ba2 | BB | BB | BB | BB | |
Ba3 | BB- | BB- | BB (low) | BB- | |
Highly Speculative Grade | B1 | B+ | B+ | B (high) | B+ |
B2 | B | B | B | B | |
B3 | B- | B- | B (low) | B- | |
Substantial Risk Grade | Caa1 | CCC+ | CCC+ | CCC | |
Caa2 | CCC | CCC | CCC | CCC | |
Caa3 | CCC- | CCC- | CCC | ||
Extremely Speculative Grade | Ca | CC | CC | CCC | CC |
C | CCC | C | |||
In Default with Little Prospect for Recovery | CD | RD | RD | ||
In Default | SD | SD | |||
C | D | D | D | D | |
DD | DD | ||||
DDD | DDD | ||||
Not Rated | NR | NR | NR | NR | NR |
FAQ
What is Italy’s current credit rating?
Italy’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Italy’s credit risk.
Has Italy’s credit rating changed recently?
This page lists the latest rating and outlook actions for Italy, showing when each agency last reviewed or changed its assessment.
Why does Italy’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Italy's bond yields, currency, and equity flows as investors reassess risk.
How does Italy’s rating compare to other countries?
You can explore how Italy ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
What do outlooks like Positive, Stable, and Negative mean?
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
What is the difference between investment grade and speculative grade?
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
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