The Standard and Poor's ratings agency downgraded the EU bailout fund EFSF by one notch to AA+ but said it would restore the top AAA ranking if the fund obtains additional guarantees.
The decision was the result of downgrades to France's and Austria's ratings from AAA since they served as top-level guarantors of the European Financial Stability Facility, S&P said in a statement.
"The EFSF's obligations are no longer fully supported either by guarantees from EFSF members rated 'AAA' by Standard & Poor's, or by 'AAA' rated securities," said S&P, AFP reported.
Meanwhile, Moody's on Monday, Jan 16, confirmed France's triple-A credit rating but said it was still reviewing whether it would maintain its "stable" outlook for the debt-laden country.
