The American Standard & Poor’s (S&P) rating agency carried out its warning, which was made in the end of 2011, and on Friday it lowered the rating of nine eurozone countries.  

The AAA rating of France and Austria was lowered up to AA+, dpa informs. Also, the rating of Spain, Italy, Portugal, and Cyprus was lowered by two points, whereas that of Malta, Slovakia, and Slovenia, by one point.     

S&P has a negative forecast for fourteen eurozone countries, but it confirmed Germany’s AAA rating.

The agency’s actions were harshly criticized in Europe. Olli Rehn, the European Commissioner for Economic and Monetary Affairs and the Euro, stated that the agency’s given decisions are not substantiated, Reuters News Agency informs. He also announced that the European mechanism for financial stability will be put into effect in July.