Moody’s downgrades long-term debt ratings on 28 Spanish banks
After downgrading several U.S. banks last week, including a couple that are near junk status, Moody has downgraded 28 banks in Spain. Their 28 long-term debt ratings were slashed. Moody’s says exposure to real estate will “likely cause higher losses.” Great news huh?
Breaking: Moody’s downgrades long-term debt ratings on 28 Spanish banks, says exposure to real estate will “likely cause higher losses.”
— FOX Business (@FoxBusiness) June 25, 2012
