Let's start with the good news: Ratings agency Fitch announced France would keep its AAA rating for the rest of the year. A Fitch spokesperson in Paris said, "Fitch maintains its position from December. In the absence of important shocks that could be linked to a strong worsening of the situation in the eurozone, Fitch does not foresee modifying its negative outlook (on the ratings) before 2013."
Now, it's Europe, let's get to the bad news. In London, Fitch's managing director, David Riley, said Italy was the country that was most at risk of a downgrade. "The future of the euro will be decided at the gates of Rome," Riley told reporters.
The country's A+ rating could be lowered as soon as the end of January.