"Here our thoughts regarding the rumored downgrade of Italy. While we remain negative on the ratings for peripheral euro zone, we don’t think a downgrade of Italy is a sure thing. Its numbers have always been bad, and have in fact stayed remarkably stable during this crisis even as the rest of the periphery blew up. With rating agencies on the warpath, we can’t rule out a downgrade, but the case for a downgrade of Italy isn’t as glaringly obvious as the others in the periphery..."
at http://www.creditwritedowns.com/2010/12/italy-downgrade.html#ixzz17dqw2Co8
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