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As we announced in November, unless credit market conditions stabilize in the near future, our ratings of all EU sovereigns will need to be revisited"
- Moody's Investors Service
Moody's Investors Service said it still plans to review EU member countries' credit ratings in the first quarter 2012, hinting that last week's agreement between 26 nations failed to deliver "decisive policy measures" to combat the debt crisis.
"In substance, however, the communique offers few new measures, and does not change our view that risks to the cohesion of the euro area continue to rise," Moody's said in its weekly credit report to investors.
"As we announced in November, unless credit market conditions stabilize in the near future, our ratings of all EU sovereigns will need to be revisited. The communique does not change that view, and we continue to expect to complete such a repositioning during the first quarter of 2012."