S&P Downgrades Italy; Euro, Futures Tumble
by Tyler Durden
As usual, a corrupt and pathetic Moody’s continues to boldly not go where everyone else has gone before. Luckily, S&P, which had the balls to cut the US, has just done so to Europe’s next domino, by downgrading Italy from A+ to A, outlook negative. Then again, this was pretty much telegraphed 100% earlier today as noted in “Italy Expected To Cut Growth Forecasts Further.” Anyway, those incompetents from Moody’s are next.
Italy Unsolicited Ratings Lowered To ‘A/A-1′ On Weaker Growth Prospects, Uncertain Policy Environment; Outlook Negative