Bangkok--7 Mar--Standard & Poor's Held down by weak consumer spending, economic growth in the Eurozone has continued to moderate, according to an article published today by Standard & Poor's. The report, titled "Europe Credit Comment: Credit Quality Vulnerable To Deteriorating Macroeconomy (Premium)," says that the combination of slowing economic activity and rising aggregate prices, especially if protracted, could squeeze profit margins and lead to credit deterioration. "The Eurozone's decelerating economy and heightened inflation could erode credit quality," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group. "Eurozone growth was held down by a drop in consumer spending, which fell by 0.1% quarter on quarter in the fourth quarter of 2007 from 0.5% growth in the third quarter. The contraction in consumer spending—which accounts for almost 60% of the Eurozone economy—is the first in six years." The report is available to RatingsDirect subscribers who have upgraded their package to include the Global Fixed Income Research add-on. RatingsDirect is the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com. If you are not a RatingsDirect subscriber with the Global Fixed Income Research add-on, please contact your local Standard & Poor's representative or [email protected] for further information. Ratings information can also be found on Standard & Poor's public Web site at www.standardandpoors.com; under Credit Ratings in the left navigation bar, select Find a Rating, then Credit Ratings Search. Members of the media may request a copy of this report by contacting the media representative provided. Media Contact: Mimi Barker, New York (1) 212-438-5054, [email protected] Analyst Contact: Diane Vazza, New York (1) 212-438-2760