Fitch Ratings cites political uncertainty after Italy's election in cutting the country's credit rating by one notch. "The inconclusive results of the Italian parliamentary elections on February 24-25 make it unlikely that a stable new government can be formed in the next few weeks," according to Fitch. "The increased political uncertainty and non-conducive backdrop for further structural reform measures constitute a further adverse shock to the real economy amidst the deep recession."

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