Moody's Investors Service downgraded six European nations and said the United Kingdom may be next.
While the other ratings firms already had downgraded several of the European nations, Moody’s is the first to issue a warning about the United Kingdom, citing its waning ability to reduce debt.
Moody’s downgraded Italy, Spain, Portugal, Malta, Slovenia and Slovakia. Like Standard & Poor’s and Fitch Ratings, Moody's cited concern over the Euro zone’s debt crisis.
Moody’s also lowered its outlook on France and Austria to negative. S&P had downgraded both of those countries.