Friday, 27 January 2012

Rampaging Fitch! Monster Downgrades!

Fitch just cut the long-term issuer ratings of 5 EU countries:

Belgium: AA+ to AA

Spain: AA- to A

Italy: A+ to A-

Cyprus: BBB to BBB-

Slovenia: AA- to A

It affirmed Ireland's BBB+ rating with a negative outlook.

While Fitch says that it supports EU leaders actions to address the crisis so far, a lot more has to happen before these countries are out of trouble.

- Source Business Insider, read more here: