NEW YORK (Reuters) – Fitch downgraded the sovereign credit ratings of Belgium, Cyprus, Italy, Slovenia and Spain on Friday, indicating there was a 1-in-2 chance of further cuts in the next two years. In a statement, the ratings agency said the affected countries were vulnerable in the near-term to monetary and financial shocks. “Consequently, these sovereigns do not, in Fitch’s view, accrue the full benefits of the euro’s reserve currency status,” it said. …

Quoted from Fitch cuts Italy, Spain, other euro zone ratings on Yahoo! News – Latest News & Headlines

The Abu Dhabi National Oil Company said on Tuesday that it has been assessed by Fitch to be among the most creditworthy oil and gas producers in the world. Euro-zone debt crisis: period of economic uncertainty in the euro zone beginning in 2009 that was triggered by high levels of public debt, particularly in the countries that were grouped under the acronym “PIIGS” (Portugal, The economy of Spain is the world's thirteenth-largest by nominal GDP, and it is also one of the largest in the world by purchasing power parity. 2008–2014 Spanish financial crisis - The 2008–2014 Spanish financial crisis, also known as the Great Recession in Spain or the Great Spanish Depression, began in 2008 during the world financial crisis of 2007–08. Tags: 20082014, spanish, financial, crisis, The European market for non-performing loans is becoming more active, with Italy and Spain accounting for most of the deals, according to research by the European Central Bank. HSBC bows to investor pressure and executives’ pay Philip Green eyes job and store in Topshop revamp Ford to slash thousands of jobs in Europe as CEO’s pay 4 Hours Ago. A "bomb cyclone" hurled hurricane-force winds, sparked tornadoes and dumped heavy snow and rain across the Plains and western Midwest on its march across the United States this week.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.