International Companies

Moody's cuts 12 Spanish banks to junk in latest round of cuts

By Sara Busquets

Date: Tuesday 26 Jun 2012

Moody's complied with what the markets have mostly been anticipating and downgraded its ratings for 28 Spanish banks, the rating agency's biggest series of rate cuts in Spain.

Twelve of those entites were cut to "junk status," six were downgraded by four notches, and ten were downgraded by...

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