Publications
Partners
Madrid - Fitch expects its ratings review of six eurozone
states will result in downgrades of one to two notches in most of those
countries, senior director Ed Parker said at a Fitch conference in Madrid on
Thursday.
Fitch put Belgium, Spain, Slovenia, Italy, Ireland and
Cyprus on negative watch on December 16 last year.
Fitch told the eurozone at the time that it thought a
comprehensive solution to the bloc's debt crisis is was beyond reach.
Rating agency peer Standard & Poor's cut ratings on a
swathe of eurozone states earlier this month.
As for Spain, Parker said the review would take into account
the new government’s recent actions to cut costs and implement reforms, but
said: “There are continuing problems with the public finances and bank assets
and the labour market is dysfunctional.”
Parker said the review would be concluded by the end of January.
