By Stephen NakrosisMoody's Investors Service on Friday said it was giving negative outlooks to the Czech Republic and to Slovakia, citing their reliance on Russian energy supplies. In the case of Slovakia, Moody's cited the country's significant energy dependence on Russia. In the wake of sanctions imposed following Russia's military invasion of Ukraine, the flow of oil and gas from Russia has slowed. Moody's also cited energy reliance on Russian supply as a factor when it changed its outlook on Italy to negative from stable on Friday. "Significant reliance on gas for its energy exposes Italy to further cuts in supply from Russia as well as higher energy prices," Moody's said.

Source: Wall Street Journal August 06, 2022 10:50 UTC