Moody’s Downgrades Italian Banks, Outlook Negative
May 15th, 2012Via: Reuters:
Moody’s Investors Service downgraded the long-term debt and deposit ratings for 26 Italian banks on Monday, citing the country’s recession and rising bad debt levels.
The banks were all downgraded by at least one notch, and for some, by as many as four notches, Moody’s said, adding all of the banks affected have a negative outlook.
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