The socioeconomic conditions in Campania, a region of southern Italy, will continue to lag the national average, leading to greater demand for public services and investments. However, thanks to tight national budgetary rules and improved regional management, Campania?s budgetary performance will likely remain strong and debt will continue to trend down. We therefore affirmed our 'BBB+' long-term issuer credit rating and maintained the stable outlook. On Nov. 7, 2025, S&P Global Ratings affirmed its 'BBB+' long-term issuer credit rating on the Italian Region of Campania. The outlook is stable. The stable outlook reflects our expectation that Campania will continue to post budget surpluses and maintain its downward debt trajectory and sound debt service liquidity coverage, while improving services and gradually
