Thursday, September 30, 2010

End of the holiday home investment era

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 (1103 views)
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2 thoughts on “End of the holiday home investment era

  • 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?

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  • Why isn’t anyone being arrested at the rating agencies.

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