European stock market reminded stable after Standard & Poor’s decreased rating of 9 Euro countries. The rating downgrade was unofficially expected, the only question reminded was amount of countries. Finally on Friday S&P announced nine European countries with lower ratings: France, Austria, Italy, Spain, Portugal, Slovakia, Slovenia, Cyprus and Malta. Most importantly German’s rating reminded at the same: triple A level, France was downgraded only by one level.
Although S&P rating agency has a strong voice among investors, the decision should not affect negatively European markets. Last week Fitch kept the highest rating of France and so far Moody’s agency did not change ratings.
Standard & Poor’s is going to decide about European Financial Stability Facility rating downgrade.
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