Goldman’s Jim O’Neill said S&P’s downgrade of the eurozone countries was “one of the most widely anticipated moves of all time.“
But, if there could be an even more widely anticipated move, then this might be it.
Just days after S&P downgraded Europe, Fitch is warning that it will probably follow suit. Earlier this morning, Fitch’s Edward Parker said this (via Bloomberg)
“We would expect the review will lead to downgrades of one to two notches for all the countries under review,” Parker said today in Milan.
In December, Fitch identified these countries: Belgium, Spain, Italy, Cyprus, Slovenia, and Ireland. At the time, all were placed on creditwatch negative.
In case you forgot, Fitch’s head of sovereign ratings David Reilly issued a nearly identical warning last Tuesday.