The credit rating agency Moody’s today downgraded Spain’s rating from AAA to Aa2 on negative outlook, a drop of 2 notches. This is mainly because the cost of bailing out the countries failed banks is expected to be much higher than was previously expected. Moody’s estimates the cost could rise to EUR50bn, comfortably higher than [...]
Read the rest of this entry »Archive for the ‘Other Currencies’ Category
Moody's Cut Spain's Credit Rating and UK Manufacturing Output Increases
Thursday, March 10th, 2011
