Two potential Eurozone actions of note......>

RATINGS: Two potential Eurozone actions of note tonight: Fitch on Austria

(current rating AA+; outlook positive) & Portugal (BBB; outlook positive).

- Positive outlooks means upgrades are possible tonight post-US market close.

- Citi: "For Portugal an upgrade to BBB+ is likely based on the new government's

commitment to continue to reduce debt/GDP. Austria's AA+ rating could also be

upgraded to AAA, but the rating agency might wait for OVP-Greens negotiations to

conclude, given any rating upgrade will be predicated on 'confidence that the

new post-elections government will continue prudent fiscal policy'."

- Morgan Stanley: "we think Fitch may upgrade Portugal's rating. The risk is

that, having just changed the rating outlook to 'positive' in May, it decides to

wait a while longer...Austria likely to remain unchanged given current political

uncertainty, but with some potential upside risk as growth remains robust

and public finances continue to improve."

- Others tonight include Moody's on Latvia (current rating A3; outlook stable)

and DBRS Morningstar on Estonia (current rating: AA (low), Stable Trend) &

Latvia (current rating: A (low), Positive Trend)