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Debt ratings of 16 Spanish banks cut

Moody's has cut the debt ratings of 16 Spanish banks by one to three notches

Debt ratings of 16 Spanish banks cut

Thu, 17 May, 2012 - 22:01

Moody's has cut the debt ratings of 16 Spanish banks by one to three notches

The ratings agency is citing the effects of the ongoing recession and the reduced creditworthiness of the Spanish government.

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