Standard and Poors have downgraded Greece’s sovereign credit ratings to ‘selective default’. Earlier this month UK had the outlook on it’s Aaa Moody’s rating changed to negative in a range of adjustments by the major credit agency including downgrades for Italy, Malta, Portugal, Slovenia, Slovakia and Spain.
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Last week, Standard and Poor’s has downgraded nine countries in the eurozone. See how different credit rating agency compare countries.
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France has been stripped of its coveted AAA credit rating in a mass downgrade of nine eurozone countries by Standard & Poor’s. It also cut Austria’s triple-A rating, and relegated Portugal and Cyprus to junk status.
The majority of the countries have a stable outlook (55% on average). That said, the number of countries with negative or negative watch far exceeds those with a positive one across all three agencies.
S&P has 10 countries on positive outlook, all emerging market, including Turkey, Chile, and Indonesia.