S&P Downgrades Credit Rating of Nine Eurozone Nations, Including France and Italy

Posted on January 13, 2012

The Guardian is reporting that Standard & Poor's is downgrading the credit rating of nine eurozone nations. France's credit rating was downgraded by one notch from AAA to AA. Germany's credt rating was not changed and remains at AAA. Here are some highlights of the downgraded nations:

The S&P has not officially announced the cuts in credit ratings. The news will likely have a negative impact on the market next week. The U.S. credit rating was downgraded from AAA to AA+ by the S&P last August.

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