S&P Cuts Outlook to Negative on Multiple Japanese Banks, Insurers, Power Companies on Sovereign Revision

Fitch just downgraded the United Kingdom's sovereign credit rating to AA+ from AAA. Below is the full text from the release:

In an effort to halt expansion of Japan's massive public debt, Japan's Prime Minister Seeks Doubling National Sales Tax. Prime Minister Yoshihiko Noda said containing Japan’s public debt load, the world’s largest, is critical after Standard & Poor’s downgraded credit ratings on France, Austria and seven other European nations.

Research Recap submits: Standard & Poor’s Ratings Services today raised its long-term foreign and local currency sovereign credit ratings on the People’s Republic of China to ‘AA-’ from ‘A+’. The outlook on the long-term ratings is stable.

The clean-up at Fukushima after its tsunami-sparked nuclear meltdowns is unlike anything humanity has ever undertaken, Japan's prime minister said on Saturday during a tour of the plant.

Research Recap submits: Standard & Poor’s Ratings Services has affirmed its ‘AAA’ long-term and ‘A-1+’ short-term sovereign credit ratings on the United Kingdom with a negative outlook:

The France-based ratings agency has just joined China's Dagong, and US Moody's by Fitch-slapping Italy with a BBB ratings handle. Citing four main reasons: election results which and 'non-conducive' for further structural reforms, deeper than expected recession, greater than expected budget deficits, and a weak government less able to respond to shocks. But apart from all that, as we noted earlier, Italian stocks and bonds are bid.   Via Fitch:

By Research Recap: Fitch Ratings affirmed the United States Long-term foreign and local currency Issuer Default Ratings (IDRs) and Fitch-rated U.S. Treasury security ratings at ‘AAA’. Fitch has also simultaneously affirmed the U.S. Country Ceiling at ‘AAA’ and the Short-term foreign currency rating at ‘F1+’. The rating Outlook on the Long-term rating is revised to Negative from Stable.