Milan - A two-notch downgrade of Italy is an option, a senior director of Fitch ratings said on Wednesday.
"A downgrade by two notches is one of the possible options," said Alessandro Settepani, senior director for business and relationship management at Fitch in Italy.
"The committee will assess the rating of Italy on the basis of refinancing levels and measures for growth," he said. Settepani said an agreement on the fiscal compact will be considered in any decision on an Italy downgrade.
Fitch earlier said it is likely to cut Italy's rating by the end of January.