The ratings agency cut Italy to A2, from Aa2, maintaining its negative outlook.

FORBES: Moody's Downgrades Italy, Warns Of 'Material Increase' In Funding Risks

SocGen was cut to Aa3 from Aa2 while Credit Agricole was taken down to Aa2 from Aa1.

FORBES: Stocks Mixed After Moody's Downgrades SocGen And Geithner Rejects Lehman-Moment

Moody's downgraded Ireland's debt Friday to Baa1 from Aa2, or five levels.

FORBES: Magazine Article