France rating outlook lowered, Spain, Italy on review: Fitch

Fitch Ratings lowered France’s rating outlook and put the grades of nations including Spain and Italy on review for a downgrade, citing Europe’s failure to find a “comprehensive solution” to the debt crisis.

Fitch changed its outlook on France to negative, while affirming its AAA rating. It also placed Spain, Italy, Belgium, Slovenia, Ireland and Cyprus on a “Rating Watch Negative” review, which it expects to complete by the end of January, according to a statement released today in London.

The move raises pressure on European leaders after Fitch said on Dec. 12 that the lack of a comprehensive solution at a European Union summit this month increased pressure on sovereign ratings.

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