The new rank for Euro economy

The S&P 500 has announced the new rank for Euro economy countries like :


Rating             Country
____________________________________________
AAA                Germany, Finland, Luxembourg & Netherlands
AA+                 France & Austria
AA                    Belgium
AA-                  Estonia
A+                    Slovenia
A                       Spain, Malta & Slovakia


BBB+               Ireland & Italy
BB+                  Cyprus
BB                     Portugal
CC                     Greece


AAA = Highest grade credit; AA+, AA, AA- = Very high grade credit; A = High grade credit; BBB = Good credit grade; BB = Speculative grade credit; B = Very speculative credit; CCC = Substantial risk.


This announcement make all major stock market around the Europe and US get negative index.