“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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