Moody’s downgrades Spain credit ratings

Moody’s, the credit rating agency, downgraded Spain’s sovereign debt on 10 March 2011, shaking financial markets already unsettled by the turmoil in Libya and by debt crises in other eurozone economies.

Spain, which used to hold triple A ratings from all the main rating agencies, had its rating cut by one notch to Aa2, two notches below the top level, in the latest downgrade of a eurozone sovereign by a rating agency.

El País, 15.3.11: Credit rating agencies under fire (via PressEurop) http://www.presseurop.eu/en/content/news-brief/550161-credit-rating-agencies-under-fire

ESO: Background information: Spanish unemployment continues to climb http://www.europeansources.info/record/spanish-unemployment-continues-to-climb/

ESO: Background information: Spanish government reaches deal to raise retirement age http://www.europeansources.info/record/spanish-government-reaches-deal-to-raise-retirement-age/

ESO: Background information: Moody’s clashes with EU on advance warnings http://www.europeansources.info/record/moodys-clashes-with-eu-on-advance-warnings/

BBC News, 10.3.11: Spain debt rating downgraded by Moody's http://www.bbc.co.uk/news/business-12697397

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