– Moody’s warns may cut AAA-rating for UK and France (Reuters, Feb. 14, 2012):
Rating agency Moody’s warned it may cut the triple-A ratings of France, Britain and Austria and it downgraded six other European nations including Italy, Spain and Portugal, citing growing risks from Europe’s debt crisis.
– Moody’s cuts ratings on Italy, Portugal and Spain (Washington Post, Feb. 14, 2012):
NEW YORK — Ratings agency Moody’s Investor Service on Monday downgraded its credit ratings on Italy, Portugal and Spain, while France, Britain and Austria kept their top ratings but had their outlooks dropped to “negative” from “stable.”
Moody’s also cut its ratings on the smaller nations of Slovakia, Slovenia and Malta. All nine countries are members of the European Union.
London, 13 February 2012 — As anticipated in November 2011, Moody’s Investors Service has today adjusted the sovereign debt ratings of selected EU countries in order to reflect their susceptibility to the growing financial and macroeconomic risks emanating from the euro area crisis and how these risks exacerbate the affected countries’ own specific challenges.
– Rating Action: Moody’s adjusts ratings of 9 European sovereigns to capture downside risks (Moody’s, Feb. 13, 2012):
Moody’s actions can be summarised as follows:
– Austria: outlook on Aaa rating changed to negative
– France: outlook on Aaa rating changed to negative
– Italy: downgraded to A3 from A2, negative outlook
– Malta: downgraded to A3 from A2, negative outlook
– Portugal: downgraded to Ba3 from Ba2, negative outlook
– Slovakia: downgraded to A2 from A1, negative outlook
– Slovenia: downgraded to A2 from A1, negative outlook
– Spain: downgraded to A3 from A1, negative outlook
– United Kingdom: outlook on Aaa rating changed to negative