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
Santander UK has been quick to reassure customers that their money is in safe hands, despite being downgraded by Moody's ratings agency.
The decision by a credit rating agency to downgrade Santander UK is another demonstration that the troubles in the eurozone affect us all