Italy Bonds Fall After Surprise Credit Rating Downgrade

The video discusses the unexpected economic news regarding Italy's credit rating downgrade due to the significant impact of coronavirus on its economy. The downgrade predicts an 8% economic contraction, a 10% deficit, and a debt-to-GDP ratio of 150%. The Italian government disagrees with this assessment, arguing it doesn't reflect the country's fundamentals or European-level actions. Despite this, the market reacts negatively, with rising BTP yields.

What is the projected debt to GDP ratio for Italy mentioned in the text?

How does the market react to the current economic situation in Italy according to the text?