Moody’s cuts ratings on Italy, Portugal, Spain; outlook ‘negative’ for France, Austria, UK

Ratings agency Moody’s Investor Service on Monday downgraded its credit ratings on Italy, Portugal and Spain, while France, Britain and Austria kept their top ratings but had their outlooks dropped to “negative” from “stable.”

Moody’s also cut its ratings on the smaller nations of Slovakia, Slovenia and Malta. All nine countries are members of the European Union.

The agency said it took the actions due to the uncertainty over EU financial reforms, the region’s weak economic outlook and the resulting pressure on fragile markets.

For more: Moody’s cuts ratings on Italy, Portugal, Spain; outlook ‘negative’ for France, Austria, UK - The Washington Post