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Top Spanish Banks Downgraded

Moody’s Investors Service has downgraded the senior debt and deposit ratings of 30 of Spain’s top banks two weeks after lowering the country’s rating.

Moody’s Investors Service has downgraded the senior debt and deposit ratings of 30 of Spain’s top banks two weeks after lowering the country’s rating. The credit rating agency said the banks lost at least one rating notch, while half of them dropped two notches and five were cut by three or four positions. The ratings of Banco Santander, BBVA and La Caixa—Spain’s largest banks—were unaffected.

Click here to read the release from Moody’s.

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