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Moody’s cuts ratings of 16 Spanish banks
Moody’s Investors Service
The European banking industry has suffered another crushing blow after Moody’s ratings agency downgraded the credit ratings of 16 Spanish banks, citing the weakened government’s ability to support some banks.
The agency downgraded the long-term debt and deposit ratings by one to three notches for 16 Spanish banks and Santander UK PLC, a UK-domiciled subsidiary of Banco...