Moody's calls Europe's sovereign-debt crisis "unprecedented"

05/11/2010 | Reuters

Moody's Investors Service said it might downgrade the credit ratings of Portugal and Greece as it called the debt crisis in Europe "unprecedented". "Contagion has spread from Greece -- historically a weaker credit in the context of the euro zone -- to sovereigns with stronger credit metrics like Portugal, Ireland and Spain," Moody's said.

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