Posts Tagged ‘Eurozone Summit’

Notes From Underground: Spanish MISSTEPS lead to MOODY’s downgrade

March 11, 2011

The ratings agencies are awakening to the idea that there are major problems in the European sovereign debt markets. Moody’s downgrade is insignificant as Spain still holds a comfortable investment grade, Aa2, so from a financial viewpoint the demerit is a mere mark on its transcript. Rather than affecting Spain, the move by Moody’s raises the question: where have you been?