Tuesday, December 6, 2011

S&P Warns Euro Zone on Downgrade

The US rating agency, Standard & Poor's, put 15 countries on negative creditwatch.

Feeling the sting of the massive debt crisis, 6 AAA-rated euro zone countries (Germany, France, Austria, Finland, the Netherlands and Luxembourg) may lose that coveted rating within the next 90 days.

S&P will conclude their review "as soon as possible" following this week's summit of EU leaders on Friday.

The 6 countries with the AAA have been warned that their ratings would be lowered to AA+ if they do not convince its expert.

Although many felt that France would be downgraded, few expected Germany to be on the list.

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