List Of S&P Rating Action On 16 Eurozone Nations

Source: Standard & Poor's

RATINGS LIST
                               To                   From

Austria (Republic of)          AA+/Negative/A-1+    AAA/Watch Neg/A-1+

Belgium (Kingdom of) (Unsolicited Ratings)
                               AA/Negative/A-1+     AA/Watch Neg/A-1+

Cyprus (Republic of)           BB+/Negative/B       BBB/Watch Neg/A-3

Estonia (Republic of)          AA-/Negative/A-1+    AA-/Watch Neg/A-1+

Finland (Republic of)          AAA/Negative/A-1+    AAA/Watch Neg/A-1+

France (Republic of) (Unsolicited Ratings)
                               AA+/Negative/A-1+    AAA/Watch Neg/A-1+

Germany (Federal Republic of) (Unsolicited Ratings)
                               AAA/Stable/A-1+      AAA/Watch Neg/A-1+

Ireland (Republic of)          BBB+/Negative/A-2    BBB+/Watch Neg/A-2

Italy (Republic of) (Unsolicited Ratings)
                               BBB+/Negative/A-2    A/Watch Neg/A-1

Luxembourg (Grand Duchy of)    AAA/Negative/A-1+    AAA/Watch Neg/A-1+

Malta (Republic of)            A-/Negative/A-2      A/Watch Neg/A-1

Netherlands (The) (State of) (Unsolicited Ratings)
                               AAA/Negative/A-1+    AAA/Watch Neg/A-1+

Portugal (Republic of)         BB/Negative/B        BBB-/Watch Neg/A-3

Slovak Republic                A/Stable/A-1         A+/Watch Neg/A-1

Slovenia (Republic of)         A+/Negative/A-1      AA-/Watch Neg/A-1+

Spain (Kingdom of)             A/Negative/A-1       AA-/Watch Neg/A-1+

     ** Market News International Washington Bureau: 202-371-2121 **