安融（香港）评级确认意大利共和国2024年主权信用评级“BBB”国际评级；展望:稳定
安融（香港）评级确认意大利共和国2024年主权信用评级“BBB”国际评级；展望:稳定
2024年12月30日，中国香港。安融（香港）评级确认意大利共和国（简称“意大利”）的长期主体评级为“BBB”，展望为“稳定”。
评级结果肯定了意大利经济规模庞大且国民收入水平较高，经济结构多元化且工业基础十分雄厚；居民财富规模较大且居民负债率较低；国际收支状况长期保持良好，货币地位较高，同时也关注了意大利经济增长率很低，疫后复苏进程较为缓慢；政府债务负担很重，一般政府负债率长期位于150%以上；政治稳定性相对较低，政府政策的一致性与延续性受到负面影响等风险要素。
关键评级观点
优势
意大利经济规模庞大且国民收入水平较高，经济结构多元化且工业基础十分雄厚；
意大利居民财富规模较大且居民负债率较低；
意大利国际收支状况长期保持良好，货币地位较高。
关注
意大利经济增长率很低，疫后复苏进程较为缓慢；
意大利政府债务负担很重，一般政府负债率长期位于150%以上；
意大利政治稳定性相对较低，政府政策的一致性与延续性受到负面影响。
评级展望
意大利经济增速有望持续复苏，通胀压力或得到有效控制，政局稳定性有望得到修复。综合考虑，安融（香港）评级授予意大利的信用评级展望为稳定。
注：
1、上述评级均为主动评级。
2、本文译自英文版新闻稿。若有分歧，以英文版为准。
专案组组员
林芮礽，分析师
评审委员会主任
胡超
Huchao@arrating.com
媒体联系
complaints@arrating.com
评级服务联系
林芮礽
相关信用评级委员会召开日期：2024年12月30日
若欲获取进一步的信息，敬请访问www.arrating.com
相关的评级方法和模型
《主权信用评级方法和模型》（2024年11月28日）
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本次评级依据评级对象已经正式对外公布的信息，相关信息的合法性、真实性、完整性、准确性和及时性由评级对象及其信息发布方负责。安融(香港)评级按照相关性、及时性、可靠性的原则对评级信息进行了审慎分析，但对上述信息的合法性、真实性、完整性、准确性和及时性不作任何保证。评级结果未考虑无法获取的可能对信用等级有重要影响的非公开数据。
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ARHK Affirms ‘BBB’ International Rating to The Republic of Italy, Outlook Stable
30 December 2024
Hong Kong, December 30, 2024. ARHK has affirmed an international scale long-term issuer credit rating of ‘BBB’ to The Republic of Italy (hereinafter referred to as ‘Italy’), with a stable outlook.
The rating results confirm that Italy has a large economic scale and a high level of national income, with a diversified economic structure and robust industrial foundation. Residents have a large scale of wealth paired with low levels of debt. It maintains a strong balance of payments over the long term, and its currency is highly valued in the global market. However, Italy’s rating highlights concerns regarding several risk factors. Italy’s economic growth rate is very low, and the recovery process after the pandemic is relatively slow. Italy has a high government debt burden, with the general government’s debt ratio exceeding 150% in the long term. Additionally, Italy has a relatively low level of political stability, which negatively affects the consistency and continuity of government policies.
KEY RATING PERSPECTIVES
Strengths
Italy has a large economic scale and a high level of national income, with a diversified economic structure and robust industrial foundation.
Italy’s residents have a large scale of wealth paired with low levels of debt.
Italy maintains a strong balance of payments over the long term, and its currency is highly valued in the global market.
Weaknesses
Italy’s economic growth rate is very low, and the recovery process after the pandemic is relatively slow.
Italy has a high government debt burden, with the general government’s debt ratio exceeding 150% in the long term.
Italy has a relatively low level of political stability, which negatively affects the consistency and continuity of government policies.
RATING OUTLOOK
Italy’s economic growth is expected to continue to recover, inflationary pressures may be effectively controlled, and political stability is expected to be fixed. Taking all factors into consideration, ARHK assigns a stable outlook to the credit rating of Italy.
NOTE:
1. The above ratings are all unsolicited credit ratings.
2. The Chinese version of this article is translated from the English version of the press release. In case of discrepancies, the English version shall prevail.
ANALYST CONTACTS
Analyst
Lam Yui Ying
Committee Chair
James Hu
Media Contact
Rating Services Contact
Lam Yui Ying
Date of Relevant Rating Committee: 30 December 2024
Additional information is available on www.arrating.com
Related Criteria
Sovereign Credit Rating Methods and Models (28 November 2024)
DISCLAIMER
This rating is based on information officially released to the public by the rated objects. The legality, authenticity, completeness, accuracy, and timeliness of the relevant information are the responsibility of the rated objects and its information publishers. ARHK has conducted a prudent analysis of the rating information based on the principles of relevance, timeliness, and reliability, but does not guarantee the legality, authenticity, completeness, accuracy, and timeliness of the above information. The rating results did not take into account non-public information that may have a significant impact on the credit rating and could not be obtained.
Any statements and judgments regarding the credit status of the rated objects in this report are only for reference in relevant decision-making and do not imply that ARHK substantively recommends any user to invest, borrow or lend money, and trade based on this report, nor can they be used as a basis for users to purchase, sell, or hold related financial products. Under no circumstances shall ARHK, as well as its directors, shareholders, employees, or representatives be liable for any damages, expenses, costs, or losses incurred by any investor (including institutional and individual investors) as a result of using the analysis results presented in this report, nor shall they be liable for any consequences arising from the use of this report by the rated objects or their issuers or providing this report to other parties.