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French TV says France downgraded by S&P, citing source

Europe

Standard & Poor's ratings agency has downgraded France's credit rating, French television channels reported on Friday, citing a government source.

Senh: It seems like these credit rating agencies are downgrading everyone. It was shocking when they downgraded the U.S., but now they're going after European countries.

 

S&P Puts 15 Nations in Euro Zone on Watch

Eurozone

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.

 

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