Moody's lowers outlooks on Germany, Netherlands
Tue, 24 Jul 2012 6:29p.m.
Moody's Investors Service is lowering its outlook for the credit ratings of Germany, the Netherlands and Luxembourg, citing the mounting uncertainty over the debt crisis in Europe and the possibility that those stronger countries would have to provide aid to Spain or Italy.
The rating agency said Monday that it is revising its outlook to 'Negative' from 'Stable' for the three countries' top Aaa ratings. The increasing likelihood that Greece could withdraw from the group of countries that use the euro currency deepens the crisis, Moody's said.
The region's debt debacle flared anew Monday as fears intensified that Spain, the fourth-largest economy in the euro group, would be next in line for a government bailout.
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24/07/2012 11:15:02 p.m.
Matt J wrote:
Moody's. The same crdit rating agency that was, up until 2007, handing out triple A ratings to banks offering sub prime mortgages. The declarations of these ratings agengies are a joke and need to be taken with a degree of sceptism.
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