United States federal government credit-rating downgrade

Ratings Agency Standard & Poor’s has downgraded the European Union outlook from stable to negative, while affirming its AA+ credit rating. The downgrade reflects the agency’s assessment of the increased needs for financing EU member-states, including Greece.

Fitch Ratings on Friday announced it has placed National Bank of Greece’s mortgage-covered bonds’ B+ rating on Rating Watch Positive, following the upgrade of Greece’s sovereign long-term rating to B, from B- a week earlier.

Credit agency Standard and Poor’s raised its rating on Cyprus to B from B- on Friday, saying the Mediterranean nation was faring better than expected after last year’s tumultuous international bailout.

Cyprus was meeting terms set out by its foreign lenders and risks to its debt repayments were less, the ratings agency said.