Fitch warns may downgrade six including Spain and Italy

16th December 2011, Comments 0 comments

Fitch Ratings said Friday it was reviewing the credit ratings of six eurozone countries, including Spain and Italy, warning that their credit scores could be downgraded.

Placing Belgium, Spain, Slovenia, Italy, Ireland and Cyprus on Ratings Watch Negative "indicates that the above ratings are under active review and are subject to a heightened probability of downgrade in the near-term," said Fitch.

The ratings agency added that any downgrades of ratings would likely be limited to one or two notches and that it expects to make decisions by the end of January.

Belgium currently has an AA+ rating from Fitch, Spain AA-, Slovenia AA-, Italy A+, Ireland BBB+, and Cyprus BBB.

© 2011 AFP

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