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S&P Warns on 15 Euro-Zone Nations

S&P put the long-term sovereign-debt ratings of 15 euro-zone nations, including struggling Italy and Spain, on negative watch. That typically means there is at least a 50% chance of a downgrade within 90 days, but the firm said Monday that it expected to announce any rating changes "as soon as possible" following this week's European Union summit, where policy makers are expected to lay out plans to enforce stricter budget rules.

An S&P spokesman confirmed that Monday's move was the most countries the firm has put on credit-watch negative at one time.

S&P said the long-term ratings on Germany, Belgium, Austria, Finland, Luxembourg and the Netherlands aren't likely to fall by more than one notch, if at all. But it flagged a potential two-notch downgrade for France and other euro-zone nations.

S&P appears to view the summit as a "make or break" event for the euro zone, said Kathy Jones, a strategist for Charles Schwab & Co.


Read full at: http://online.wsj.com/article/SB10001424052970204903804577080603317263424.html

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