Moody's cuts Spain's rating from 'A3' to 'BAA3
14:43, 14 June 2012
LONDON. June 14. KAZINFORM Moody's has cut Spain's sovereign debt rating from "A3" to "BAA3" with a possible new cut in 3 months, AGI reported.
A communique' from the agency forsees a possible declassification at the end of their review of Madrid's situation within three months at the latest. Moody's underlines that the cut is an indirect consequence of the 100 billion dollar loan obtained from the Eurogroup to recapitalize Spanish banks, an element which "will further increase the (Spanish) debt load".