S&P warns triple-A ratings may be lost

STANDARD & Poor’s (S&P) is to warn that Germany and France may be stripped of their triple-A credit ratings as the debt crisis prompts all 17 euro nations to be put on review for a possible downgrade, said two officials familiar with the S&P decision.

The eurozone’s six triple-A rated countries are among the nations to be placed on a negative outlook, and their credit ratings may be cut depending on the result of a summit of EU leaders on Friday, the officials said yesterday. The euro reversed its gains and US Treasuries rose after the Financial Times reported the credit-ranking firm planned to reduce six triple-A outlooks, without citing a source.

John Piecuch, a spokesman for S&P in New York, gave no comment.