Moody’s ratings agency decided to surprisingly downgrade the rating of ten German public-sector banks. This is the first time Europe’s largest economy in the region, which keeps the Eurozone afloat, is hit.
Moody's Investors Service said it may cut Italy's sovereign credit rating from Aa2, citing such challenges as reforming a rigid labour market while also facing the likelihood of rising interest rates.
The United States may lose its top-notch credit rating in the next few weeks if lawmakers fail to increase the country's debt ceiling, forcing the government to miss debt payments, Moody's Investors Service warned.
Ratings agency Moody's downgraded the debt of BNP Paribas, Societe Generale, and Credit Agricole today, citing deteriorating liquidity and funding conditions.