Standard & Poor’s is warning it may downgrade the European bailout fund’s AAA long-term credit rating.

The move announced on Tuesday follows S&P’s notice on Monday that it may cut the credit rating of 15 eurozone countries, including Germany’s, because the region’s financial crisis is worsening without any imminent fix.

The agency says in a release that it is putting the AAA long-term credit rating for the European Financial Stability Facility on “CreditWatch with negative implications.”

It says it could downgrade the rating by one or two notches.

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