Egan-Jones cuts Germany on exposure to euro zone

Egan-Jones Ratings on Tuesday lowered Germany's sovereign rating on expectations that the country will be left with significant uncollectable receivables due to its exposure to the euro zone. "Egan-Jones Ratings has downgraded Germany from 'AA-' to 'A+' and has issued a negative watch with a projected rating of 'A-,'" said Sean Egan, managing director of Egan-Jones, in emailed comments.