Fitch Downgrades Italy, Spain, Ireland, Belgium, Cyprus and Slovenia

Fitch downgrades Italy, Spain, Ireland, Belgium, Cyprus and Slovenia
Fitch Ratings has today concluded its review of the six eurozone sovereigns it placed on Rating Watch Negative (RWN) on 16 December 2011. The rating actions on the long-term (LT) and short-term (ST) Issuer Default Ratings (IDRs) are as follows: -Belgium LT IDR downgraded to ‘AA’ from ‘AA+’; Negative Outlook; ST IDR affirmed at ‘F1+’ -Cyprus LT IDR downgraded to ‘BBB-‘ from ‘BBB’; Negative Outlook; ST IDR affirmed at ‘F3’ -Ireland LT IDR affirmed at ‘BBB+’; Negative Outlook; ST IDR affirmed at ‘F2’ -Italy LT IDR downgraded to ‘A-‘ from ‘A+’; Negative Outlook; ST IDR downgraded to ‘F2’ from ‘F1’ -Slovenia LT IDR downgraded to ‘A’ from ‘AA-‘; Negative Outlook; ST IDR downgraded to ‘F1’ from ‘F1+’ – Spain LT IDR downgraded ‘A’ from ‘AA-‘; Negative Outlook; ST IDR downgraded to ‘F1’ from ‘F1+’