Spanish Debt One Notch Above Junk, Moody's Says |
| June 13, 2012 | June 2012 Bond Updates |
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The slew of credit rating downgrades continues for Spain, with Moody’s axing its sovereign debt rating to Baa3 on Wednesday, to just one notch above junk status. Spain’s limited access to financial markets, along with its dependence on external funding, and the impact on debt-to-GDP of the recent $125 billion bailout, all contributed to the downgrade; Spain remains under review for a further ratings cut over the next three months. |
| View more at: http://www.forbes.com/sites/afontevecchia/2012/06/13/spanish-debt-one-notch-above-junk-moodys-says/ |
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