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* ITALY LT IDR CUT TO A- FROM A+ BY FITCH
* SPAIN ST IDR DOWNGRADED TO F1 FROM F1+ BY FITCH
* IRELAND L-T IDR AFFIRMED BY FITCH; OUTLOOK NEGATIVE
* BELGIUM LT IDR CUT TO AA FROM AA+ BY FITCH
* SLOVENIA LT IDR CUT TO A FROM AA- BY FITCH
* CYPRUS LT IDR CUT TO BBB- FROM BBB BY FITCH, OUTLOOK NEGATIVE
And some sheer brilliance from Fitch:
* In Fitch's opinion, the eurozone crisis will only be resolved as and when there is broad economic recovery.
Spain, Italy, Belgium, Cyprus and Slovenia had their debt ratings cut by Fitch Ratings, which said these nations do not accure “the full benefits of the euro’s reserve currency status.”
Ireland had its ratings affirmed by Fitch. The outlook on all six nations is negative.