First International, Non-Profit Credit Rating Agency (INCRA): Serious Risks to France's and Brazil's Rating - Italy Cited for Good Euro-Crisis Management - Germany's Top Sovereign-Debt Rating Secure Only With Reform

First International, Non-Profit Credit Rating Agency (INCRA): Serious Risks to France's and Brazil's Rating - Italy Cited for Good Euro-Crisis Management - Germany's Top Sovereign- Debt Rating Secure Only With Reform PR Newswire WASHINGTON and BERLIN, November 20, 2012 WASHINGTON and BERLIN, November 20, 2012 /PRNewswire/ -- A downgrading of Germany's top sovereign-debt credit rating can be avoided only if the country continues to implement fiscal reform at home and push for similar reform in its eurozone partners, according to the criteria set out in the Bertelsmann Foundation's proposal for the first international, non-proft credit rating agency (INCRA). This conclusion is part of a new INCRA report, presented today in Berlin, that provides test sovereign-debt ratings for five countries: Brazil, France, Germany, Italy and Japan. The INCRA report uses a scale of 1 to 10 for its ratings. Germany achieves a score of 8.1 (equivalent to AAA, negative outlook), while France follows close behind with 7.9 (AA+). Italy earns a 7.2 (AA-), Brazil a 6.8 (A+) and Japan a 6.0 (A- ). All the countries examined, however, face challenges to maintaining their ratings. INCRA praises Germany for its management of the eurozone crisis. But Berlin's liability for approximately €310 billion of debt of other eurozone countries, its own current debt of 82.