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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 Servicehas 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 ofBanco Santander,BBVAandLa Caixa—Spain’s largest banks—were unaffected.