S&P Global Ratings has upgraded the long-term issuer credit rating and senior unsecured debt rating of the State Oil Company of Azerbaijan (SOCAR) from “BB-” to “BB.”

S&P Global unexpectedly downgraded France’s credit rating, citing political instability as a threat to the government's efforts to stabilize its finances. The downgrade affects the euro zone’s second-largest economy.

Tokyo stocks continued to move downward on Monday as concerns over the financial market impact of a recent U.S. credit rating downgrade by Moody's weighed down investors' sentiment.