Global ratings agency Moody's on Friday upgraded Italy's sovereign rating to "Baa2" from "Baa3", citing the country's consistent track record of political and policy stability.
"Italy is making good progress in meeting the milestones and targets of the National Recovery and Resilience Plan, leading among all EU countries in terms of number of payment requests and disbursements," the agency said in a statement. Moody's has upgraded Italy's rating for the first time since May 2002, when it passed from "Aa3" to "Aa2", and the rating has not changed since a downgrade in October 2018.
