DBRS publishes a new update on the Italian....>

ITALY: DBRS publishes a new update on the Italian credit entitled "Italy:

Improvements, but Rome wasn't built in a day". 

- They write "The new electoral law is likely to improve, but doesn't guarantee

better governability, potentially affecting the pace of the reform agenda.

DBRS's baseline scenario remains that a grand coalition of traditional parties

would form the next government." 

- On the slightly positive side "The systemic risk in the banking sector has

receded, but credit growth remains modest and banks continue to deal with a

large amount of NPLs." 

- One interesting point of attention is the weak growth in working hours and

high level of youth unemployment.