S&P rates Luxembourg “Credit Watch Negative”

(ADW) The U.S. rating agency, Standard and Poor's, placed Luxembourg and five other European countries with triple A ratings on “credit watch negative” due to the worsening economic and political crisis on the “Old Continent”.

No country found favour in the eyes of Standard and Poor's. The six European countries still with triple A ratings, namely Germany, France, the Netherlands, Austria, Finland and Luxembourg, could be lowered a notch by S & P, but the rating affects 15 countries in total.

The “Credit watch negative” means that the rating agency may degrade the six countries in 90 days. Standard and Poor's has warned the governments concerned that they would slip to AA + rating if

policies implemented in Europe do not convince experts.