Five European Nations to Be Downgraded by S&P: Report
Published: Friday, 13 Jan 2012 | 1:18 PM ET Text Size
By: Antonia van de Velde
CNBC Associate Editor
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.
"Remain alert tonight when U.S. markets close," one euro zone source told Reuters.