S&P downgrades the credit ratings of nine eurozone countries.

On Friday, January 13-th the ratings agency Standard and Poor’s (S&P) downgraded the debt of nine eurozone countries including France and Austria, stripping them of their AAA status. S&P also cut the ratings of Italy, Spain, Portugal, Cyprus, Malta, Slovakia and Slovenia. However, Germany has held onto its coveted triple-A rating. Italy is now on the same BBB+ level as Kazakhstan. The agency indicated that the long-term outlook is negative for the eurozone countries, with a chance of further downgrades.  

Oksana Vernygora 

http://www.euronews.net/2012/01/14/eurozone-nations-hit-with-credit-rating-downgrades