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The recovery of the U.S. automotive industry got another shot in the arm Tuesday, when Fitch Ratings hiked its rating on Ford Motor and its credit arm to investment grade.

Moody's ratings agency downgraded Nokia's debt grade to near junk status on Monday, citing a sharp decline in first-quarter cellphone sales that led to a 35 percent fall in revenue.

Federal prosecutors are stepping up their investigation of Standard & Poor's ratings of troubled mortgage securities during the financial crisis, according to former analysts questioned by prosecutors.

Monday's euro-zone downgrade warning by Standard & Poor's Ratings Services is a muscular move by a firm that was pilloried for its supposed laxity in the financial crisis. S&P put the long-term sovereign-debt ratings of 15 euro-zone nations, including struggling Italy and Spain, on negative watch. That typically means there is at least a 50% chance of a downgrade within 90 days, but the firm said Monday that it expected to announce any rating changes "as soon as possible" following this week's European Union summit, where policy makers are expected to lay out plans to enforce stricter budget rules.

Hewlett-Packard Co. had its credit ratings placed on review for possible downgrade by Moody’s Investors Service after the company decided to keep its personal computer business.

Moody’s Investors Service downgraded Spain’s credit rating Tuesday and warned that France’s rating could also be at risk, citing both nations’ vulnerability as Europe struggles to manage its persistent debt crisis.

Fitch on Friday cut Spain's credit ratings by two notches, just a few minutes after downgrading Italy, saying the intensification of the euro zone debt crisis has had a negative impact in the entire region.

Moody's Investors Service on Tuesday cut Italy's bond ratings by three notches, saying it sees a "material increase" in funding conditions for euro zone countries with high levels of debt.

The U.S. Securities and Exchange Commission staff found "apparent failures" at each of the 10 credit rating agencies it examined, including Standard & Poor's and Moody's, the agency said on Friday in its first annual report of credit raters.

The Securities and Exchange Commission faces hurdles proving wrongdoing at credit-rating agencies, the SEC's enforcement chief said in an interview shortly after it was learned that his office may sue Standard & Poor's for breaking securities laws.