Saturday, June 09, 2012

A bit late... the party as always.

Moody's Investors Service said Friday that it may consider downgrading debt ratings for some eurozone nations if Spain seeks a bailout for its banking sector or Greece ends up dropping the euro as its national currency.
The ratings firm said it is assessing the implications of a bailout for Spain and is prepared to make rating changes to reflect any heightened risk for Spain's government creditors.
There's growing speculation that Spain could decide within days or weeks to ask the European Union for a bailout for its banks, which have been crippled by soured real estate investments.

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