Europe sees another round of sovereign downgrades.

Monday, January 30, 2012

Five European countries  had their sovereign credit rating downgraded by Fitch on Friday as the risk of contagion continues to spread through the euro area.

Comment by: Anonymous. Posted 12 years ago [2012-02-01 00:38:14]

The lower ones are all still too high given their dependence on the ECB, IMF and other sovereigns for liquidity and perhaps solvency. These ratings imply it is 99% certain they will get the support they need on an ongoing basis, whereas most rational market participants would put the chances as "high but not a certainty under all scenarios" and certainly less than 99% if they had to quantify the probabilities

CLOs

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