After S & P, this could be the turn of Moody's rating of degrading of France. The rating agency had announced last month that it had extended its review of the stable outlook of the Hexagon last night finally decided to lower its outlook to negative while maintaining the Aaa rating, the highest possible. In other words, the U.S. opens the way for a possible deterioration of the country in the coming months. The French Minister of Economy Baroin said "take note" of the decision of the agency.
And France is not the only country: Great Britain and Austria have suffered the same fate. The British Finance Minister George Osborne said that "this is proof that in the present world situation, Britain can not help but care for his debt."
Note of Spain lowered by two notches
Moody's explains that "a number of particular pressures on credit balances exacerbate the sensitivity of these rulers." Moody's also said she hopes to "reflect the sensitivity (the countries concerned) to macroeconomic and financial risks from the growing crisis in the euro area."
Worse, the agency downgraded notes of Italy, Portugal, Slovakia, Slovenia and Malta by one notch and two notches that of Spain payday loan. And perspectives of these six countries remain negative "given the continued uncertainty regarding the financing conditions in the next few quarters and its corresponding impact on the quality of the signature," said Moody's.
Six European countries are certain to keep their AAA
But she said that the magnitude of downgrades is limited because "the authorities' commitment to preserve the European monetary union and to implement all reforms necessary to restore market confidence."
It also confirmed the preliminary rating of AAA European Financial Stability Fund (EFSF) and AAA ratings assigned to Denmark, Germany, Finland, Luxembourg, the Netherlands and Sweden.
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