Fitch May Cut Six EU Countries on Review by 1 or 2 Levels

Fitch Ratings will likely cut all six euro-area countries currently on review by one or two levels by the end of this month, Managing Director Edward Parker said.

“We do expect that the review will lead to downgrades of one to two notches for all the countries under review,” Parker said today in Milan.

Fitch placed Spain, Italy, Ireland, Cyprus, Belgium and Slovenia on review in December for possible downgrades, citing Europe’s failure to find a “comprehensive solution” to the region’s debt crisis. Fitch also lowered the outlook on France’s AAA rating at the time, though executives this month said France’s rating would not likely be cut this year.

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