EU - Moody's on Monday went against S&P and kept its triple-A rating on France unchanged

The European Commission has claimed it has secret information about the positive state of EU countries' finances, following a shock downgrade of core member states.

Commission spokesman Olivier Bailly made the statement at a regular press briefing in Brussels on Monday (16 January), two days after US-based agency Standard & Poor's downgraded nine EU countries, including France.

"We have more information than the ratings agencies and we think there are elements missing in their analysis ... We have monthly updates from member states. We share this information on a confidential basis. The ratings agencies do not have this information," he said. Bailly noted the S&P decision was "very odd as far as timing is concerned ... indeed [it was] a strange timing."

Whether or not his comments reassure investors remains to be seen. But rival ratings agency Moody's on Monday went against S&P and kept its triple-A rating on France unchanged.

For more: EUobserver.com / Economic Affairs / EU commission: 'We know better than ratings agencies'

"US to lose AAA credit rating soon" - says former Bush White House advisor - by Nick Evans

Former White House economic advisor Todd Buchholz says a downgrade of the US credit rating is imminent, despite a deal being reached in the deadlock over the debt ceiling this morning.

Speaking at the Diggers and Dealers conference this morning in Kalgoorlie, Mr Buchholz said he believes ratings agencies will downgrade the US credit rating from its current AAA level over the next few months, ahead of the report of a Congressional committee on ways to reign in the US budget.

Republican Congressional leaders reportedly cut a deal overnight with President Barack Obama's administration, which will lift the debt ceiling in exchange for a trillion dollars worth of budget cuts over the next ten years.

For more: US to lose AAA credit rating soon - former White House advisor | Latest Business & Australian Stock market News | Perth Now

US Rating Agencies Are the Least of Europe’s Problems - by Ivory Johnson

One might argue that Greece technically defaulted when it could no longer borrow money from the capital markets to meet its obligations. Much like optimistic children who faithfully believe new sneakers make them run faster, the European Central Bank has engaged in fiscal gimmicks to delay the inevitable.

It would appear that the rating agencies have reached a similar conclusion, threatening to assign a default status to Greek debt if the ECB embraces a plan to roll over maturing bonds.

France built the Maginot Line during World War II, an impenetrable wall supported by heavy artillery and 15 percent of the French army. Despite their efforts, Adolf Hitler went around the wall and conquered Paris without much opposition.

Note EU-Digest: Europe should not care about US rating agencies and shut them out of the EMU completely. If Europe would return to each having their own currencies, only the financial industry would benefit. The US rating agencies would do much better concentrating on their own home market, which is completely living in "La-La-Land".

For more: Europe: Rating Agencies Are the Least of Europe’s Problems - CNBC

EurActiv.com - EU Parliament backs tighter rules for rating agencies

For the complete report from EurActiv.com click on this link

EU Parliament backs tighter rules for rating agencies

The European Parliament yesterday (23 April) adopted a law that introduces mandatory registration and supervision of credit rating agencies for the first time.The sector has been criticized for being too slow to warn investors of the risks in securitized products, which have become largely untradable in the credit crunch despite having had high ratings. "This is one of the tools to respond to the crisis," French centre-right MEP Jean-Paul Gauzes said. Parliament voted externally in favor of the draft law with 569 for and 47 against, amid four abstentions.