Downplayed: Rating agency Standard & Poor’s today downgraded the creditworthiness of the euro zone’s rescue fund by one notch to AA+, putting the fund’s ability to raise cheap bailout money at risk. The downgrade follows ratings cuts for formerly AAA-rated France and Austria, whose financial guarantees were key to the creditworthiness of the European Financial Stability Facility. “The downgrade to ‘AA+’ by only one credit agency will not reduce (the) EFSF’s lending capacity of €440 billion,” Klaus Regling, the fund’s chief executive officer, says in a statement. S&P had warned in December that it would cut the rating of the €440 billion EFSF in line with the downgrades of any AAA country. Moody’s and Fitch, the other big two rating agencies, still have the EFSF at AAA, meaning that it would count as a top-notch investment for most funds. But analysts warn that further downgrades are likely soon. The Associated Press has the full story here.
No injuries reported: Authorities say there has been a chemical leak at Avondale Container Yard. The Times-Picayune reports Jefferson Parish firefighters arrived at the scene early today. The chemical was identified as sodium carbonate peroxyhydrate, a substance used in fungicides and algaecides. The Environmental Protection Agency says the chemical is used for treating “ornamental plants, turf grasses, terrestrial landscapes, in commercial greenhouses, garden centers, nurseries and storage areas.” It targets algae, moss, liver worts, slime molds and their spores, along with other pests. The EPA says the chemical shows human exposure could cause minimal to mild toxicity, such as skin irritation or eye damage. The extent of the release was not immediately known, and no injuries were reported.
On deck: The 2012 LSU Baseball First Pitch Banquet to kick off the college baseball season will be held at 6 p.m. Friday, Feb. 10, at the Crowne Plaza Hotel. Former LSU all-American and MLB free agent pitcher Paul Byrd will serve as the keynote speaker. Members of the 2012 squad will also hold an autograph session. Tickets are $75 for adults, $25 for children, and other price levels are available for former LSU players, coaches committee members and sponsors. Tickets and more info are available here. The Tigers open the 2012 season playing Air Force on Friday, Feb. 17, at Alex Box Stadium.
