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EU in threat over credit rating

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Standard and Poor says the EU's credit rating is under review

Standard and Poor says the EU's credit rating is under review

Standard and Poor says the EU's credit rating is under review

Ratings agency Standard & Poor's says it is putting the European Union on review for a possible downgrade of its triple-A credit rating.

The move follows up on a similar action taken on Monday in regard to 15 of the 17 members of the euro because of the eurozone's debt crisis.

The eurozone member countries contribute 62% of the EU's revenues.

Standard & Poor's said its credit review would focus on the financial ability of eurozone countries to support the EU's repayment of its debts.

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