Monday, January 16, 2012

Euro's emergency fund now downgraded!

"The EFSF's obligations are no longer fully supported either by guarantees from EFSF members rated AAA by S&P, or by AAA rated securities," the company said. "Credit enhancements sufficient to offset what we view as the reduced creditworthiness of guarantors are currently not in place."
S&P removed the ratings on the facility from CreditWatch with negative implications, it also said.



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