29 Nov '11, 2am

'All European ratings at risk' say experts. Is it up to Asia to carry the world economy?

LONDON - The rapid escalation of the euro zone sovereign debt and banking crisis threatens the credit standing of all European government bond ratings, Moody's Investors Service warned yesterday. "While Moody's central scenario remains that the euro area will be preserved without further widespread defaults, even this positive scenario carries very negative rating implications in the interim period," the rating agency said. Moody's also noted that the political impetus to implement an effective resolution plan may only emerge after a series of shocks, which may lead to more countries losing access to market funding and requiring aid. "This would very likely cause those countries' ratings to be moved into speculative grade in view of the solvency tests that would likely be required and the burden-sharing that might be imposed if support were to be needed for a sustained per...

Full article: http://www.todayonline.com/Hotnews/EDC111129-0000069/All-...

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