Belgium LT IDR downgraded to ‘AA’ from ‘AA+’; Negative Outlook; ST IDR affirmed at ‘F1+’: iShares MSCI Belgium Index Fund (NYSE: EWK) is still up 0.4% at $11.33; 52-week range $10.23 to $15.65.
Ireland LT IDR affirmed at ‘BBB+’; Negative Outlook; ST IDR affirmed at ‘F2’: Bank of Ireland (NYSE: IRE) down 1.6% at $6.15; 52-week range of $3.99 to $27.00 (adjusted for reverse split). MSCI Ireland Capped Investable (NYSE: EIRL) is down 1.5% at $20.17; 52-week range is $16.78 to $23.80. The Irish Investment Fund, Inc. (NYSE: IRL) is still up almost 1% at $7.22 and its 52-week range is $6.49 to $8.77.
Italy LT IDR downgraded to ‘A-‘ from ‘A+’; Negative Outlook; ST IDR downgraded to ‘F2’ from ‘F1’: iShares MSCI Italy Index Fund (NYSE: EWI) is down 0.8% at $12.92; 52-week range is $10.88 to $20.15. Telecom Italia S.P.A. (NYSE: TI) is flat at $10.33 an dthe 52-week range is $9.74 to $16.04.
Spain LT IDR downgraded ‘A’ from ‘AA-‘; Negative Outlook; ST IDR downgraded to ‘F1’ from ‘F1+’: iShares MSCI Spain Index Fund (NYSE: EWP) is still up 0.4% at $31.44 against a 52-week range of $28.53 to $45.99. Banco Santander, S.A. (NYSE: STD) is still up 0.7% at $8.16 against a 52-week range of $6.77 to $12.72.
Two more downgrades were issued:
- Cyprus LT IDR downgraded to ‘BBB-‘ from ‘BBB’; Negative Outlook; ST IDR affirmed at ‘F3’
- Slovenia LT IDR downgraded to ‘A’ from ‘AA-‘; Negative Outlook; ST IDR downgraded to ‘F1’ from ‘F1+’
Should this have really been a surprise? If so, these would be performing far worse.
JON C. OGG
Contact [email protected] for any questions or corrections.
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