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tdp2664 InvestorPlace After several weeks of speculation – and one "erroneous" press release in November — the first "official" word of Standard & Poor's downgrading France's AAA rating came Friday afternoon. But it came not from S&P but from French Finance Minister Francois Baroin , who spoke on French TV. He said the rating would be dropped by one notch, to AA+. Speculation was high all day on Friday that S&P would finally move to lower the ratings of several eurozone countries after various officials made off-the-record comments about the looming downgrades. An EU official told Bloomberg that Italy's rating was getting cut by two notches, from A to BBB+. Germany was reported to be keeping its pristine AAA rating. As of mid-afternoon in New York, S&P had not yet made any official announcements. It typically does so after the New York markets close. The major U.S. indexes didn't react dramatically as the news of the downgrades grew more certain on Friday afternoon. After being down over 100 points earlier, partly on the poor earnings report by JPMorgan Chase (NYSE: JPM ), with less than an hour to go on NYSE trading, the Dow Jones Industrials were down around 80 points.
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