Moody's downgrades Spain's credit rating one step to Aa1

09/30/2010 | Bloomberg

Moody's Investors Service said it lowered its rating for Spain to Aa1, a one-step drop, because of weak prospects for the economy. The credit rating agency assigned Spanish government debt a "stable" outlook, indicating it doesn't foresee another downgrade in the near future. An Aa1 from Moody's is an investment-grade rating.

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