Standard & Poor’s will cut the credit ratings of Italy, Spain and Portugal by two notches and downgrade France and Austria by one notch, a French newspaper said Friday, without citing its sources.
The newspaper, Les Echos, said that S&P would spare Germany, the Netherlands, Finland and Luxembourg in its long-awaited adjustment of euro zone sovereign ratings.
It said the announcement would come at around 4:30 pm ET, after the US stock market has closed.
– Antonia van de Velde, CNBC
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