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Stock Market & Financial Investment News

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May 17, 2012
13:09 EDTBBVA, STD, BBD, BSBRMoody's downgrades four Spanish regions on poor fiscal performance
Moody's downgraded the ratings of the Spanish regions of Catalunya, Murcia, Andalucia and Extremadura citing their poor fiscal performance in 2011 and the low probability that the regional governments will be able to meet the 2012 deficit target set by the central government. Moody's also confirmed the ratings of the regions of Castilla-La Mancha and Valencia, and of four government-related entities in Valencia, reflecting their non investment grade ratings and the significant liquidity support from the Spanish central government.
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