The credit ratings agency Moody’s has downgraded five Spanish autonomous regions with Andalucia achieving the status colloquially known as ‘junk’. Extremadura also suffers the same fate. Castilla-La Mancha, Cataluña and Murcia, already ‘junk’ status, saw their credit-worthiness fall even further down the pan.
28 Spanish banks downgraded by Moody’s
Moody’s is the latest ratings agency to once again downgrade the credit rating of Spanish banks, only seven remaining above ‘junk’ status.
Sixteen banks downgraded by ratings agency Moody’s
The ratings agency Moody’s has cut the credit ratings of sixteen Spanish banks, including two of the largest, Banco Santander and BBVA. Ten of the 16 banks were also put on negative credit watch, meaning that further downgrades are possible.
Spain’s debt rating cut again
Moody’s has downgraded the rating of Spain’s government bonds by two notches from Aa2 to A1 with a negative outlook just two days after Standard & Poor’s took the same decision.
Italian and Spanish debt downgraded
Italian and Spanish government debt have both been downgraded by the Fitch credit rating agency. Fitch cut Italy’s rating from AA- to A+. Fellow agency Moody’s carried out downgrades earlier this week.
Spain’s credit rating downgraded
The ratings agency Moody’s has downgraded Spain’s rating to Aa2 with a negative outlook as it raised concerns over the Spanish government’s ability to improve its finances against a backdrop of only moderate economic growth.