S&P Puts Euro Countries on Downgrade Notice

Credit rating agency Standard & Poor's said recently that 15 members of the euro currency union have been placed on notice for a potential downgrade due to the worsening of the euro zone debt crisis.

CNN reports the warning was issued to nations currently boasting the AAA rating, including Germany, the Netherlands, France, Finland and Austria. The ratings for Greece and Cyprus were not affected by the new warning, as Greece's rating shows a high risk for default while that of Cyprus is being reviewed, according to the news source.

In a statement, S&P noted that the warning was issued as a result of the agency's "belief that systemic stresses in the eurozone have risen in recent weeks to the extent that they now put downward pressure on the credit standing of the eurozone as a whole."

Reuters reports the euro fell against the dollar for the third consecutive day on Tuesday, December 6, with investors eyeing the decision by S&P to deliver the credit warnings.