Spain: Moody Downgrades 4 regions, banks to come [NotSoBreakingGeo] - MarketTicker Forums


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User Info	Spain: Moody Downgrades 4 regions, banks to come in forum [NotSoBreakingGeo]
Txin1880 Posts: 4737 Incept: 2009-02-25 Texas	6.06pm: Some breaking news on Spain -- Moody's has just announced that it has downgraded four Spanish regions: Catalunya, Murcia, Andaluca, and Extremadura. It confirmed its ratings on two other regions - Valencia, and Castilla-la Mancha. Moody's said it had taken the decision because it believes there is little chance that authorities in these areas will hit their deficit goals. That's worrying – Spain missed its overall deficit target in 2011 because its regions borrowed too much. The move comes as speculation grows that Moody's will downgrade as many as 21 Spanish banks tonight. According to the FT's fine Alphaville blog, the downgrade is definitely coming, and it's going to be big... ---------- Realization - Rage - Resolve - Rifles - Rope - Recovery - Rinse - Repeat 2012-05-17 13:39:37 Permalink
Hstella Posts: 284 Incept: 2009-08-18 Colorado	Bankia will surely lead there. The report is 1 billion euros withdrawn in the last week. 2012-05-17 15:34:51 From PDA Permalink