Updated from 2:06 p.m. EST with response from the chief of the European Financial Stability Facility to Standard & Poor's downgrade of the facility to double-A-plus.LONDON ( TheStreet) -- Ratings agency Standard & Poor's Monday downgraded the long-term credit rating of the eurozone's bailout fund, the European Financial Stability Facility, to double-A-plus from triple-A. The move follows S&P's downgrade late Friday of multiple eurozone nations, including the region's No. 2 economy, France. "The downgrade to 'AA+' by only one credit agency will not reduce (the) EFSF's lending capacity of euro440 billion," Klaus Regling, the fund's chief executive officer, said in a statement, according to the Associated Press. The other two major ratings agencies, Fitch and Moody's, still rate the EFSF triple-A. That means it remains a top-tier investment for most investment funds. If the other agencies follow S&P's lead, however, the bailout fund will face higher borrowing costs or it will have to increase guarantees from its triple-A-rated members, the AP noted.