DBRS Extends Review of Italy’s Ratings until After December Referendum

DBRS has extended the time frame for its review of the Republic of Italy’s ratings until after the constitutional referendum on 4th December 2016. On 5th August, DBRS placed the Republic of Italy’s long-term foreign and local currency issuer ratings, at A (low), Under Review with Negative Implications. DBRS typically concludes its reviews within a 90-day time frame. Given the importance of the referendum for Italy, however, DBRS is extending the review until the results of the referendum are known. The review may be concluded soon after the referendum, but could take longer if more time is needed to assess the impact on Italy. At the latest, DBRS will conclude the review by 3rd February 2017.

All DBRS’ ratings in the DBRS sovereign calendar are subject to European Union regulations for credit rating agencies. In accordance with the regulations, these credit ratings must be reviewed at least every six months and publication must fall on a Friday after the close of all regulated markets in the European Union. Deviation from DBRS’ publication calendar for sovereign ratings or related rating reports will occur only when necessary.

This calendar is available on the DBRS website under Sovereigns: http://www.dbrs.com/research/299207/2016-updated-publication-calendar-for-eu-sovereign-rating-reports.pdf.