Moody's downgrades four Spanish regions

The credit ratings agency Moody's has downgraded four Spanish regions over doubts that they will be able to meet their budget cut targets.

The four downgraded regions are:

  • Junta de Extremadura
  • Junta de Andalucia
  • Comunidad Autonoma de Murcia
  • Catalunya

Advertisement

Santander UK downgraded

The credit ratings agency Moody's has downgraded 16 Spanish banks including Santander UK. It is the first British high street bank to be downgraded this year since the Euro crisis. The firm insists this has no impact on its UK business.