(ANSA) - Rome, February 26 - Moody's said Wednesday that
Italy is more likely to go into recession after the outbreak of
the coronavirus in the north.
But the agency added that it is unlikely to affect sovereign
and sub-sovereign credit profiles.
"The outbreak of the virus in the northern regions of Italy -
which account for around 41% of the country's GDP - adds further
downside to the Italian economy's already weak growth outlook,
and increases the risk of Italy sliding into recession," it
said.
"Although the scale and duration of the impact is highly
uncertain at this stage, temporary disruption to consumption and
production is highly likely".
Coronavirus weighs on Italy's economic growth-Moody's
Unlikely to affect sovereign credit profiles says agency