This time, Belgium was in the focus as S&P revised down the sovereign's long-term rating by one notch to AA, outlook negative.

这一次，比利时成为市场的焦点，标准普尔将其主权长期信贷评级下调了一个级别，至AA，展望负面。

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"It doesn't mean we don't have problem. The fact is,we didn't need a rating agency to tell us that we need a balanced, long-term approach to deficit reduction.

VOA: special.2011.08.12

International ratings agencies say Thailand's credit rating is at risk unless long term political divisions are resolved.

VOA: standard.2010.05.21

It also cut the short-term rating on Argentine debt to C, one step above default.

BBC: Argentina default on debt likely, says Fitch

Fitch cut its long-term rating for Argentina by five notches to CC.

BBC: Argentina default on debt likely, says Fitch

But its key short-term rating seems safe for now, an indication that the firm is in no imminent danger of the kind of credit run that brought down Bear Stearns.

FORBES: Mortgages Maul Merrill