Moody's cuts France, UK, Austria outlooks to negative

Rating agency Moody's warned on Monday it may cut the triple-A ratings of France, the United Kingdom and Austria while it downgraded the ratings of Italy, Portugal, Spain, Slovakia, Slovenia and Malta.

February 14, 2012 / 12:59 IST

Rating agency Moody's warned on Monday it may cut the triple-A ratings of France, the United Kingdom and Austria while it downgraded the ratings of Italy, Portugal, Spain, Slovakia, Slovenia and Malta.

The rating agency said it was making the changes "in order to reflect their susceptibility to the growing financial and macroeconomic risks emanating from the euro area crisis."

The rating outlook of the nine countries was set to negative "given the continuing uncertainty over financing conditions over the next few quarters and its corresponding impact on creditworthiness," Moody's said in a statement.

The move follows a similar one by Standard & Poor's last month, when France and Austria lost their triple-A status while Italy, Spain, Portugal, Cyprus, Malta, Slovakia and Slovenia were downgraded.

first published: Feb 14, 2012 05:26 am

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