S&P downgrades outlook for the EU's EFSF Bailout fund to Negative!

The announcement is linked here. The rationale is stated as follows:

Rationale
Following the lowering of the ratings on France and Austria on Jan. 13, 2012,
the rated long-term debt instruments already issued by the EFSF are no longer exclusively supported by guarantees from the EFSF guarantor members rated 'AAA' by Standard & Poor's or 'AAA' rated liquid securities.....

Outlook
The negative outlook on the long-term rating on the EFSF mirrors the negative outlooks of France and Austria.