Tue, 26 Jun 2012 06:21:17 GMT
Moody's cuts rating of 28 Spain's banks
Moody's Investors Agency downgraded Spanish biggest banks including Banco Santander SA,Banco Bilbao Vizcaya Argentaria SA (BBVA) and 26 other country's lenders citing surging national debt and climbing real estate mortgages. At least twelve banks were cut to junk grade Moody's reported yesterday.
Banco Santander was downgraded from A3 to Baa2 while BBVA was cut from A3 to Baa3.