Italics within a mixed formatting cell are slightly raised

[Dsastray]

I have a sentence in a cell. When I italicize a few words in the
sentence, the italicized words are slightly raised, as if superscript
has been applied, yet the font size stays the same.

(In fontspeak, I would say that the baseline of the italicized words
has been raised a point or two.)

The font is Arial 7.5pt.


Has anyone encountered this?

Thanks