Crisis in Europe: Prepare for Repercussions from Standard & Poor's Credit Rating Downgrades
After months of buzz about how the debt crisis in Europe will trigger credit ratings cuts, Standard & Poor's today (Friday) issued credit rating downgrades for at least three European countries.
France and Austria were both lowered one notch to AA-plus. According to an Italian news agency, Italy was also going to be lowered two notches to BBB-plus.
A source told Reuters that Spain and Portugal also face downgrades.
"Remain alert tonight when U.S. markets close," the Eurozone