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Spain’s credit rating downgraded again: Spain’s credit rating was cut for the third time since June 2010 by Moody’s Investors Service as Europe’s sovereign-debt crisis threatens to engulf the nation. … Moody’s reduced its ranking to its fifth-highest investment grade, cutting it by two levels to A1 from Aa2, with the outlook remaining negative, the rating [...] This doesn’t help the eurozone, per Bloomberg: Spain had its credit rating cut one level by Standard & Poor’s as rising defaults threaten efforts to stem Europe’s sovereign-debt crisis and limit risks for the region’s banks. The ranking slid to AA-, with a negative outlook, in the third reduction by S&P in three years. The ratings company announced the change [...] |
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