• 13 Jan 2012 at 1:12 PM

Standard & Poor’s Just Getting Started

By

Standard & Poor’s Ratings Services has notified the French government of its decision to downgrade the country’s credit rating, a senior French government official said Friday, a move that marks the long-awaited blow to France’s international standing and knocks the country out of the top financial league of the euro zone. S&P has informed the French government that the country’s cherished triple-A rating will be lowered one notch to double-A-plus. S&P has also notified other European governments of looming ratings downgrades, according to people familiar with the matter. [WSJ]

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Comments (38)

  1. 1
    Posted by Guest | January 13, 2012 at 1:18 PM

    How did it happen that the ratings agencies suddenly became more powerful at the same time that everyone seemed to agree that they were no longer relevant?

  2. 2
    Posted by guest | January 13, 2012 at 1:20 PM

    I'll trade you one night with Miss Bruni for that notch, does that sound like someone you'd be interested in?

    -mr. sarkozy

  3. 3
    Posted by CoveredLong | January 13, 2012 at 1:20 PM

    …in related news the senior French government official offered no statements in defense of France.

  4. 4
    Posted by FKApmco | January 13, 2012 at 1:23 PM

    something, something…Maginot Line

    Hat tip to Perma and VonStonker

  5. 5
    Posted by Oprah Wimpy | January 13, 2012 at 1:24 PM

    Freedom Fries for everyone!!! For you, for you , for you…

  6. 6
    Posted by Guest | January 13, 2012 at 1:30 PM

    circa 1985?

    - R Polanski

  7. 7
    Posted by Mr. Standard | January 13, 2012 at 1:30 PM

    I'll cut a bitch.

  8. 8
    Posted by Guest | January 13, 2012 at 1:32 PM

    Holy shit! Did S&P just downgrade the U.S. to AA+?

    - UBS Head of Ratings' Quants

  9. 9
    Posted by investorcluzo | January 13, 2012 at 1:34 PM

    S&Please…they lost all credibility when they downgraded LEH a mere 3 days before it failed (bringing new meaning to T +3).
    -P. Krugman

  10. 10
    Posted by Fixed Income | January 13, 2012 at 1:34 PM

    Waiting for Drudge or NY Post headline that says "France Surrenders AAA Rating"

  11. 11
    Posted by HungryIntern | January 13, 2012 at 1:38 PM

    So, you are telling me that telegraphing your downgrades for 90+ days and only acting once the shit hits the fan is not a legitimate business model?

  12. 12
    Posted by Guest | January 13, 2012 at 1:40 PM

    Meant to say 1975…

    Didn't realize the bitch was so old. Didn't she just get pregnant? What is she giving birth to, a baguette or something?

    - R Polanski

  13. 13
    Posted by Castor | January 13, 2012 at 1:43 PM

    "a move that marks the long-awaited blow to France’s international standing "

    As a citizen of this grand country, I'm pleasantly surprised to see we still had international standing to blow

  14. 14
    Posted by Guest | January 13, 2012 at 1:44 PM

    Too soon!

    - Barack Hussein Obama

  15. 15
    Posted by PermaGuestII | January 13, 2012 at 1:49 PM

    Après nous, la deluge.

  16. 16
    Posted by lucas | January 13, 2012 at 1:51 PM

    A spokesman for the French Central Bank stated:
    "You don't frighten us, Anglo-Saxon pig-dogs! Go and boil your bottoms, sons of a silly person! I blow my nose at you, so-called Ass and Pee… I don't want to talk to you no more, you empty-headed animal food trough wiper! I fart in your general direction! Your mother was a hamster and your father smelt of elderberries!"

  17. 17
    Posted by He Sniffed | January 13, 2012 at 2:03 PM

    "Standard" and "Poor" pretty well describes them.

  18. 18
    Posted by lucas | January 13, 2012 at 2:04 PM

    "Le deluge" is masculine.

  19. 19
    Posted by Diplomat | January 13, 2012 at 2:18 PM

    We will act snooty … forever.

  20. 20
    Posted by Unsilent Majority | January 13, 2012 at 2:41 PM

    In other news, French forces have been deloyed to ports around Europe, ready to surrender at a moments notice…

  21. 21
    Posted by UBS MD | January 13, 2012 at 2:48 PM

    thats eons ago…

    we've been looking at it as possible upgrade recently.

  22. 22
    Posted by Cray Cray | January 13, 2012 at 2:54 PM

    Ever see what happens when you through salt on a snail?

  23. 23
    Posted by geoffgeoffgeoff | January 13, 2012 at 2:58 PM

    Rightfully, they noticed the intrinsic value of our holdings following this irrational period of panic. Time will tell, motherfuckers.

    -Dick Fuld

  24. 24
    Posted by pazzo83 | January 13, 2012 at 3:11 PM

    So what is France gonna do now if their car breaks down and they're stranded?

    - UBS Unfortunate Situation Quant

  25. 25
    Posted by Guest | January 13, 2012 at 3:15 PM

    It's what's known as the Palin Paradox.

  26. 26
    Posted by trojan_ | January 13, 2012 at 3:17 PM

    "long-awaited blows" are usually more fun

  27. 27
    Posted by Guest | January 13, 2012 at 3:17 PM

    Worst comment of the day. You are embarrassing yourself.

  28. 28
    Posted by pazzo83 | January 13, 2012 at 3:23 PM

    You kill yourself?

  29. 29
    Posted by Curious George | January 13, 2012 at 3:31 PM

    Not the first time Miss Bruni has been traded for a notch

  30. 30
    Posted by Cut Me | January 13, 2012 at 3:32 PM

    Down South, we call it 'The Bachmann Equation'

  31. 31
    Posted by Cut Me | January 13, 2012 at 3:35 PM

    Are you asking what happens when you pass the salt through the snail or the snail passes through the salt?

  32. 32
    Posted by Unsilent Majority | January 13, 2012 at 4:25 PM

    You should move to France dude

  33. 33
    Posted by Bugs | January 13, 2012 at 4:31 PM

    Classic.

  34. 34
    Posted by Jay | January 13, 2012 at 5:45 PM

    I love how these signatures don't even make sense any more.

    - UBS Signature Verification Quant

  35. 35
    Posted by Guest | January 14, 2012 at 7:33 AM

    PermaGuestII is an hermaphrodite.

  36. 36
    Posted by Buboe | January 15, 2012 at 7:21 PM

    Agree with Lucas

    P. North

  37. 37
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