Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Moody's cuts Spain by 2 notches, sees funding risks
Reuters ^ | 10/18/11 | Walter Brandimarte

Posted on 10/18/2011 3:45:31 PM PDT by TigerLikesRooster

Moody's cuts Spain by 2 notches, sees funding risks

By Walter Brandimarte

NEW YORK | Tue Oct 18, 2011 6:19pm EDT

(Reuters) - Moody's Investors Service on Tuesday cut Spain's sovereign ratings by two notches, saying

high levels of debt in the banking and corporate sectors leave the country vulnerable to funding stress.

Worsening growth prospects for the euro zone will also make it more challenging for Spain to reach its ambitious fiscal targets, the ratings agency added.

Spain could be downgraded again if the euro zone debt crisis escalates further, Moody's warned.

"Since placing Spain's ratings under review in late July, no credible resolution of the current sovereign debt crisis has emerged, and it will in any event take time for confidence in the area's political cohesion and growth prospects to be fully restored," Moody's said in a report.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Extended News; Foreign Affairs; News/Current Events
KEYWORDS: debt; moodys; rating; spain

1 posted on 10/18/2011 3:45:41 PM PDT by TigerLikesRooster
[ Post Reply | Private Reply | View Replies]

To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

P!


2 posted on 10/18/2011 3:46:28 PM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster

ut oh!


3 posted on 10/18/2011 3:48:46 PM PDT by ken21
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster

“Worsening growth prospects for the euro zone.....”

####

Its the Marxism, stupid....


4 posted on 10/18/2011 3:54:15 PM PDT by EyeGuy (2012: When the Levee Breaks)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster
Meanwhile in the Bizarro Land that Wall Street currently is:

Rally Picks Up Steam on Euro Enthusiasm
5 posted on 10/18/2011 4:01:17 PM PDT by Kozak ("It's not an Election it's a Restraining Order" .....PJ O'Rourke)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kozak

Indication that things are unstable. This implies that we are at the onset of another disaster.


6 posted on 10/18/2011 4:34:14 PM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Kozak
Yep. S&P downgrades Portugal and Spain, after Greece, and the market goes up. Reminds me of the Joel Gray number in "Cabaret" as the war clouds gather.

"The show that never ends," but the last one out, is a corpse.

7 posted on 10/18/2011 8:28:46 PM PDT by hinckley buzzard
[ Post Reply | Private Reply | To 5 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson