Standard & Poor’s Ratings Agency has downgraded Italy one step as the EU nation’s economy continues in a downward spiral.
S&P said the continued weakness of the Italian economy was the reason behind the cut from BBB+ to BBB. The ratings agency said that their expectation of the Italian economy had downgraded to a 1.9% contraction, significantly worse than previously forecasts. Continue reading
Ratings agency Standard and Poor’s has revised the outlook for the U.S. economy and now considers the outlook for the country as “stable”.
In August 2011, the ratings agency downgraded the U.S. from AAA to AA+ with a negative outlook, meaning that they felt it was likely another downgrade would happen within a few years. Continue reading
Standard and Poor’s has surprised economists by raising Greece’s credit rating six levels from “selective default” to “B-minus”.
S&P stated the continued efforts of Eurozone countries to help Greece stay in the Euro and the austerity measures taken by the Greek government to eliminate excessive spending. Continue reading