(Reuters) -DBRS Morningstar upgraded Italy’s credit rating to ‘A low’ from ‘BBB high’ on Friday, underpinned by improvements that resulted in a more resilient economy and expectations that fiscal consolidation will help stabilise the public debt ratio.

“Cumulative improvements in Italy’s banking system and external accounts have significantly reduced structural weaknesses and improved its resilience since we last downgraded Italy’s credit rating in January 2017,” DBRS said.

However, according to DBRS, Italy’s credit ratings remain constrained by a very high level of public debt, a large and rising interest burden, and a potential weak GDP growth.

Italy’s public debt, the second highest in the euro zone after Greece’s, is projected by the Treasury to rise to 136.2% of GDP this year from

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