VLC shows all subtitles in italic and/or bold, depending on font

When I play a movie with external subtitles, VLC shows all subtitles in italic and/or bold, depending on font - I tested:

• Arial, Times New Roman: everything appears italic, regardless of whether it's marked with <i>. <b>-marked text appears bold+italic.
• Tahoma, Calibri, Cambria: everything appears bold, regardless of whether it's marked with <b>. <i>-marked text appears bold+italic.
• Georgia: everything appears bold+italic, regardless of <b> and <i>.
• Garamond, Verdana: all text appears correctly.

Notes:

• VLC 2.1.1 on Windows 8.1 (ever since VLC 2.0.5 on Windows 8)
• Subtitles default encoding is set to Default (Windows-1252), happens regardless to encoding
• Happens with all .srt subtitles
• I've tried to disable formatted subtitles, in both "Kate overlay decoder" (WTH is that anyways) and "Text subtitles decoder". It disables formatting - but the default style still happens, according to the font (example: Arial - everything is italic).
• I don't have font problems outside of VLC subtitles.

Solution 1:

Change the subtitle language to "Unknown" or "None"

Solution 2:

I changed subtitles font to Calibri and it worked.