Moody's cuts Italy's debt rating
Jul 13, 2012 6:59:47 GMT -5
Post by popcorn on Jul 13, 2012 6:59:47 GMT -5
Moody's cuts Italy's debt rating 
Moody's has cut Italy's credit rating, warning that the country was likely to see a sharp rise in borrowing costs.
The rating was cut two notches to Baa2 from A3, two levels above junk status.
The move raised concerns of a contagion risk from Spain and Greece, pushed Italian bank shares down and kept the euro near two-year lows against the dollar.
www.bbc.co.uk/news/business-18824246
Moody's has cut Italy's credit rating, warning that the country was likely to see a sharp rise in borrowing costs.
The rating was cut two notches to Baa2 from A3, two levels above junk status.
The move raised concerns of a contagion risk from Spain and Greece, pushed Italian bank shares down and kept the euro near two-year lows against the dollar.
www.bbc.co.uk/news/business-18824246