Ratings agency Standard & Poor's is expected to downgrade several European nations at 9 p.m. Central Europe time, or 3 p.m EST. Most impactful is the likely downgrade of France, which several news outlets, including the Wall Street Journal, say is imminent. Ratings are expected to be lowered to AA+ for both France and Austria, a second country named.
Sources within the French government have told local television outlets that officials had received a downgrade notification. Ratings agencies generally notify sovereigns and corporates of an impending downgrade before the announcement is made public.
Early reports also note that Germany, Belgium, Luxembourg and the Netherlands are unlikely to see rating actions taken….
Read more: http://www.businessinsider.com/reports-sp-downgrade-of-europe-imminent-2012-1
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