Spain Credit Rating Slashed by Moody's, Egan-Jones

Moody's Investors Service cut its rating on Spanish government debt by three notches on Wednesday From A-3 to to Baa-3, saying the newly approved euro zone plan to help the country's banks will increase the country's debt burden.

Moody's, which said it could lower Spain's rating further, also cited the Spanish government's "very limited'' access to international debt markets and the weakness of the country's economy.

The rating is on review for possible further downgrades, which could come within the next three months .... http://www.cnbc.com