S&P lowered the rating of Europe
International rating agency Standard and Poor's downgraded the credit ratings of nine euro zone countries: France, Italy, Spain, Portugal, Austria, Cyprus, Slovakia, Slovenia and Malta.
France and Austria have lost the highest credit rating of AAA. And if the rating of Austria was reduced to AA + with a "stable outlook", the ratings of France - the second largest EU economy after Germany - was downgraded to AA + with a "negative" outlook.
Germany, Finland, Luxembourg and Netherlands maintained the highest credit rating of AAA. However, only Germany got "stable" outlook, three other countries got "negative" forecast.
The agency downgraded ratings of troubled Portugal and Cyprus to "junk" level of BB with negative forecasts. The outlook for the rating of Spain was reduced to A, and Italy's index waas reduced to BBB + and "negative", Izvestia reported.
Credit ratings of Belgium, Estonia, Finland, Germany, Ireland, Luxembourg and Netherlands have not been altered. The forecasts for Austria, Belgium, Cyprus, Estonia, Finland, France, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovenia and Spain was set to "negative", which means the possibility of their lows in 2012 or 2013. The outlooks for Germany and Slovakia are stable.