From the Sydney Morning Herald - 05/10/11:Italy's credit rating was cut by Moody's Investors Service for the first time in almost two decades on concern the government will struggle to reduce the region's second-largest debt amid chronically weak growth.
Moody's lowered Italy's rating three levels to A2 from Aa2, with a negative outlook, the New York-based company said in a statement today. The action comes after Standard & Poor's downgraded Italy on Sept. 20 for the first time in five years. Italy was last cut by Moody's in May 1993.
Read more: http://www.smh.com.au/business/world-business/moodys-cuts-italian-debt-ratings-on-growth-concerns-20111005-1l7tj.html#ixzz1ZyDvi1Zl
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