Eurozone Debt Ratings

  • conservativej...

    Posts: 2478

    Jan 14, 2012 3:27 PM GMT
    From Bloomberg --

    Germany, Belgium, Estonia, Finland, Ireland, Luxembourg, and the Netherlands had their ratings affirmed by Standard & Poor's Ratings Services as France lost its AAA rating.

    France was cut to AA+ and the rating has a negative outlook, S&P said in a statement. Germany and Slovakia are the only two of the 16 Eurozone countries in the S&P review with a stable outlook, the rest have a negative outlook.

    European leaders' attempts to address economic woes hasn't "produced a breakthrough of sufficient size and scope to fully address the Eurozone's financial problems," S&P said. The region continues to face tightening credit conditions among other problems, S&P said.

    Cyprus, Italy, Portugal, and Spain were cut by two notches S&P said. The long-term ratings on Austria, Malta, Slovakia, and Slovenia were cut one notch. Portugal and Cyprus are now below investment grade, or in junk status.

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  • Posted by a hidden member.
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    Jan 14, 2012 4:12 PM GMT
    What's important to note here is that they dropped the ratings and have placed them on negative outlook. What people also aren't talking about as well is how foreigners are selling off US treasuries. Things are going to get worse before they get better - and hopefully people are starting to plan for this.