Italy was cut to “A+” from “AA-” today noting that the crisis is a significant financial and economic shock for Italy. It also notes that Italy has been hesitant to respond and it has eroded confidence.
Spain was downgraded to “AA-” with a negative outlook due to risks of fiscal consolidation efforts. It noted that it could go down to the “A-” range if the FROB costs are more than expected.
One day will hopefully come that U.S. investors do not have to worry about headline risks coming out of Europe and the lands of the PIIGS. That day is just not yet here.
JON C. OGG
Contact [email protected] for any questions or corrections.
Top Gaining Stocks
Top Losing Stocks