Germany, Netherlands and Luxembourg were warned they may lose their triple A rating due to 'rising uncertainty.'
Moody's, the credit ratings agency, said risks that Greece may quit the eurozone and an "increased likelihood" that Spain and Italy would need more financial assistance weighs down on the three top-rated countries, as Germany is the main contributor to the bailout pot.
In Germany, the finance ministry immediately shot back by saying the country remained the "eurozone's anchor of stability."
The only triple-A rated country not to face a downgrade in the following months is Finland, which has demanded collateral on bailouts in Spain and Greece, runs a fiscally conservative budget and has limited trade links with the rest of the eurozone.