Investor News
Moody's downgrades 16 Spanish banks
's Investors Service is downgrading the ratings of 16 Spanish banks because of the country's worsening financial picture.Moody's lowered its rating by one to three notches on the long-term debt and deposit ratings for 16 Spanish banks and one U.K. subsidiary on Thursday.Moody's said it took the action because the banks face a rising tide of bad loans with Spain's economy in recession, its real estate
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