Bank of Italy eyes unrated issuers



The Bank of Italy is considering demanding that Italian corporates issuing bonds have a credit rating, but the impact on Italy’s high-yield market remains uncertain.

Speculation in the Italian press has been rife that the Bank of Italy will clamp down on Italian companies selling unrated bonds directly to retail customers. This followed the default of Cirio, a producer of tinned tomatoes, on its unrated €150 billion bond in November last year.

Though the Bank of Italy declines to

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