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S&P set to put eurozone on credit watch

Posted: December 6, 2011 - 1:01am

BRUSSELS — A person familiar with the matter says Standard & Poor’s is examining the credit rating of all 17 eurozone countries for a possible downgrade as the continent’s debt crisis lingers.

The person said Monday that S&P is likely to make an announcement on putting the euro countries on “credit watch” after the closing of markets in the U.S. on Monday

The person was speaking on condition of anonymity because of the sensitivity of the matter.

The threat to downgrade all 17 eurozone countries — including the ones that enjoy the stellar AAA-rating — comes ahead of a crucial summit of EU leaders later this week.

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