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User ID: 857877 United States 06/14/2012 07:52 AM Report Abusive Post Report Copyright Violation | Moody's: Spain's credit rating could be cut to junk within three months Spain could be downgraded to 'junk’ within three months, rating agency Moody’s warned on Wednesday night, as it slashed the country’s credit rating by three notches.The €100bn (£80bn) bank bailout agreed this week will “further increase the country’s debt burden”, the agency said, as it cut Spain’s government bond rating from A3 to Baa3 – one notch above non-investment grade or 'junk’ status. Moody’s also cited the Spanish government’s “very limited financial market access” and the weakness of the country’s economy. It placed Spain on review for possible further downgrade as it awaited the outcome of audits of Spanish banks and further details of the bank bailout. Spain’s rating could also be cut if “the risk of a Greek exit from the euro were to rise further”, Moody’s said. It expected to conclude the review within a maximum of three months. [ link to www.telegraph.co.uk] |
Anonymous Coward User ID: 17845011 United States 06/14/2012 09:17 AM Report Abusive Post Report Copyright Violation | Re: Moody's: Spain's credit rating could be cut to junk within three months Good morning Doorbert.
I believe it will be a lot sooner than that but Moody's would hate to panic the sheeple to soon. |
Anonymous Coward User ID: 17906438 United States 06/14/2012 09:31 AM Report Abusive Post Report Copyright Violation | Re: Moody's: Spain's credit rating could be cut to junk within three months How about a downgrade by 5 pm today? Lol |
Anonymous Coward User ID: 1545477 United States 06/14/2012 10:08 AM Report Abusive Post Report Copyright Violation | Re: Moody's: Spain's credit rating could be cut to junk within three months Spain will be destroyed as a sovereign entity very soon |