S&P to Put Euro Zone on Credit Watch
Announcement likely after markets close
By Newser Editors and Wire Services
Posted Dec 5, 2011 3:00 PM CST
France's President Nicolas Sarkozy awaits German Chancellor Angela Merkel to discuss Europe's financial crisis at the Elysee Palace in Paris, Monday , Dec. 5, 2011. The leaders of Germany and France will...   (Michel Euler)
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(Newser) – A person familiar with the matter says Standard & Poor's is examining the credit rating of all 17 euro zone countries for a possible downgrade as the continent's debt crisis lingers. The person said today that S&P is likely to make an announcement on putting the euro countries on "credit watch" after the closing of US markets today. The person was speaking on condition of anonymity because of the sensitivity of the matter. The threat to downgrade all 17 euro zone countries—including the ones that enjoy the stellar AAA-rating—comes ahead of a crucial summit of EU leaders later this week.