Skip to comments.S&P says mistakenly announced French downgrade
Posted on 11/10/2011 5:31:33 PM PST by TigerLikesRooster
S&P says mistakenly announced French downgrade
(AFP) 7 hours ago
PARIS Ratings agency Standard and Poor's said Thursday that it had mistakenly announced to some clients a downgrade of France's top "AAA" credit rating, amid speculation of just such a move.
"As a result of a technical error, a message was automatically disseminated today to some subscribers of S&P's Global Credit Portal suggesting that France's credit rating had been changed," S&P said in a statement.
"This is not the case: the ratings on Republic of France remain 'AAA/A-1+' with a stable outlook and this incident is not related to any ratings surveillance activity. We are investigating the cause of the error."
French Finance Minister Francois Barion called on the European Securities and Markets Authority and France's Financial Markets Authority to launch probes into the mishap.
France AMF later said it had opened an investigation.
(Excerpt) Read more at google.com ...
Mistake? I did not realize that S&P was a French corporation.
meaning they weren’t forced to change the rating until after some people were aware.
We are now at a stage where this kind of accident can create butterfly effect. On the other hand, if I don my tinfoil hat, it may have been a planned snafu.:-)
“The French are revolting!”
“You bet your @ss — they stink on ice!”
Oops... the pre-print was released before the scheduled publication date!
Does anyone believe that France will deserve to stay AAA forever?
This S+P story reminds me of the time I “accidentally” called 0bama a dirty moslem.
"C'est sans importance."
Is this the S&P that was giving high ratings to all those toxic mortgage companies?
In this case, it sounds like they got paid off in the nick of time.
“France AMF later said it had opened an investigation.”
Kind of hard to suspect it wasn’t a planned snafu, given their record.
I guess that depends on what your definition of “recession” is.
These folks have learned propaganda and spin from the same masters that have enabled rapists like Slick Willy “I Sold Missile-Guidance Technology to the ChiComs” Clinton to get away with their raping of the people.