S&P downgrade focuses attention on Italian steel market woes

摘要

The downgrade on Italy's sovereign credit rating from the credit rating agency Standard & Poor’s will only focus attention on the difficulties facing Italian industry, including the steel sector, market participants tell Steel Business Briefing. S&P lowered its rating on Monday to A from A+, saying that weakening economic growth, a "fragile" government and rising borrowing costs would make it difficult to reduce Europe's second-biggest debt burden.