Tuesday, July 13, 2010

Moody's downgrades Portugal's debt rating

LISBON, Portugal — Moody's credit rating agency downgraded Portugal's debt on Tuesday, casting fresh doubt on the country's ability to weather its debt crisis as the economy weakens.

Moody's Investors Service cut Portugal's government bond ratings to A1 from Aa2. The move deepens the country's financial woes because foreign lenders will likely demand higher interest returns for the risk of loaning it money.....read on

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