S&P 'downgrades France one notch, spares Germany'

(BRUSSELS) - Standard & Poor's has decided to downgrade France's top credit rating by one notch but will spare Germany, Belgium, Luxembourg and the Netherlands, EU government sources told AFP on Friday.

"France loses its triple-A rating," one source said on condition of anonymity, adding that the credit ratings agency, one of the world's top three, has notified the governments of its decision.

"The Standard & Poor's downgrade is by one notch," to AA+, another source told AFP.

France was along with Germany, Luxembourg and the Netherlands among the six eurozone nations with a AAA rating. Sources were unable to say what S&P decided to do with the two others, Austria and Finland.

Belgium has an AA rating, which is two notches below the top score.

S&P warned last month that the credit ratings of 15 of the eurozone's 17 member states were at risk of a downgrade due to the ongoing debt crisis.

France was at that time warned it could be hit with a two-notch downgrade.