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Tag: Standard & Poor's

Rescue fund’s credit rating drop adds to euro woes - 17 January 2012 - News

Standard & Poor's cut its credit rating of the eurozone's rescue fund, the European Financial Stability Facility (EFSF), on Monday (16 January), claiming its decision was inevitable following cuts three days earlier to the creditworthiness of France and Austria, two of the EFSF's guarantors.

Pittella: Sovereign rating up to ECB or Court of Auditors - 07 December 2011 - Interview

Just after Standard & Poor’s warned it would downgrade 15 of the 17 eurozone countries if EU leaders didn't strike a deal to save the euro at a summit on Friday, vice president of the European Parliament Gianni Pittella (S&D) called to strip rating agencies of their sovereign rating power, announcing changes to the Commission proposal on rating, which has just landed in the Parliament.

Barnier to pin credit rating agencies under EU thumb - 18 May 2010 - News

EU Internal Market Commissioner Michel Barnier has told EU finance ministers today (18 May) how he plans to put credit rating agencies under the thumb of an EU agency, blaming the uncertainty in financial markets on the downgraded ratings of Greek and Portuguese debt.

Moody's sees banking contagion in eurozone debt crisis - 07 May 2010 - News

Moody's rating agency yesterday (6 May) warned of a severe risk of contagion as it expects the euro zone's debt crisis to destabilise the banking sector in several EU countries.

EU says will probe rating agencies - 05 May 2010 - News

The European Commission has told credit rating agencies to watch their step when judging a country's financial health, saying they would probe their work and could even set up a central agency to take over this job.

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