Thursday, Sep 30, 2010
End of the holiday home investment era
Yahoo afp: Moody's cuts Spain's credit rating to Aa1
Moody's rating agency sliced Spain's credit rating on Thursday, a stinging blow to the government as it presents a belt-tightening budget the day after a general strike.
The agency cut Spain's top-ranked "Aaa" rating by a single notch to "Aa1", meaning the country will now have to pay more to borrow money on the international markets.
Posted by mark @ 09:19 AM (578 views) Add Comment
2 Comments
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1. Wageslavex14 said...
How could anyone have regarded Spain as Aaa rated? How can anyone think it is only now Aa1? Why does anyone still listen to ratings agencies?
2. slartibartfast said...
Why isn't anyone being arrested at the rating agencies.