>>> Rating Agencies: for 2014 Europe has required a calendar for rating updates

Reminder: for 2014, European Commission has required ratings agencies to set a calendar for ratings updates on sovereigns; Friday, Jan 10th is the deadline for S&P ratings comment on Germany and Moody's on Portugal
- On 7/12/13, S&P affirmed Germany's sovereign rating at AAA, outlook Stable.

- On 11/08/13, Moody's revises outlook Portugal's sovereign outlook to stable from negative; maintains rating at Ba3. The last ratings change by Moody's on Portugal was a cut to Ba3 from Ba2 in Feb 2012.

- Next Friday (1/17/14) is the deadline for Moody's on Ireland, Fitch on the Netherlands, and S&P on Portugal.
- Friday, Jan 24th is the deadline for Moody's on France and the UK, and Fitch on Germany.