Moody's To Downgrade Spain Banks After Wall St Close - Report
June 25 2012 - 7:24AM
Dow Jones News
Moody's Investors Service plans to announce a massive downgrade
of Spanish banks ratings later Monday, probably after the close of
the U.S. stock market at 2100 GMT, Spanish newspaper Expansion
reports Monday, citing banking sector sources.
Most of the sector is expected to drop into junk rating, with
only the largest banks like Banco Santander SA (SAN.MC), Banco
Bilbao Vizcaya Argentaria SA (BBVA.MC) and CaixaBank SA (CABK.MC)
avoiding that fate, the newspaper adds.
Moody's already donwgraded Spain's financial sector May 17,
Expansion says.
Newspaper Web site:
http://www.expansion.com/2012/06/25/empresas/banca/1340618900.html
Write to Madrid Bureau at djmadrid@dowjones.com
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