"Fitch has joined in on the European sovereign credit rating downgrades. First it was S&P, but we might argue that this should have mostly been factored in already. Is it a secret that the economies in Europe have been slowing and have more exposure these days? Fitch is cutting six Eurozone sovereign ratings (on Rating Watch Negative since 16 December 2011) as follows (with ETFs and major ADRs indicated):
Belgium LT IDR downgraded to ‘AA’ from ‘AA+’; Negative Outlook; ST IDR affirmed at ‘F1+’: iShares MSCI Belgium Index Fund (NYSE: EWK) is still up 0.4% at $11.33; 52-week range $10.23 to $15.65..."
at http://247wallst.com/2012/01/27/fitch-joins-e-u-downgrade-waves-ewk-ire-eirl-irl-ewi-ti-ewp-std/#ixzz1kgkEfwSU
Belgium LT IDR downgraded to ‘AA’ from ‘AA+’; Negative Outlook; ST IDR affirmed at ‘F1+’: iShares MSCI Belgium Index Fund (NYSE: EWK) is still up 0.4% at $11.33; 52-week range $10.23 to $15.65..."
at http://247wallst.com/2012/01/27/fitch-joins-e-u-downgrade-waves-ewk-ire-eirl-irl-ewi-ti-ewp-std/#ixzz1kgkEfwSU
