S&P Global Ratings on January 30, 2026, maintained Italy’s sovereign credit rating at BBB+ and upgraded its outlook to positive from stable, highlighting the country's fiscal and external resilience. The agency noted that Italy’s budgetary consolidation is gradually progressing, with the headline deficit projected to fall below 3% of GDP in 2026 on an accrual basis, while cash flow effects from the Superbonus are diminishing. General government debt, though high at an estimated 136% of GDP in 2025, is expected to start declining from 2028. S&P also pointed out that diversified private sector should sustain current account surpluses despite ongoing international trade uncertainty, strengthening the economy’s net external creditor position with the rest of the world. Moody's credit rating for Italy was last set at Baa2 with stable outlook. DBRS' credit rating for Italy was last reported at A (low) with stable outlook.