Moody's says Germany's AAA credit rating at risk

Moody's says Germany's AAA credit rating at risk

PanARMENIAN.Net - Credit ratings agency Moody's has warned the outlook for Germany's AAA credit rating is negative, the first step towards a possible downgrade, according to BBC News.

Moody's said the country was at risk from the increased likelihood of a Greek exit from the euro and the need to provide more support to Spain.

Concerns are growing that Spain will have to seek a full bailout.

The Netherlands and Luxembourg - both AAA rated economies - were also put on negative watch.

A negative outlook posting from Moody's, one of a handful of agencies that assess the creditworthiness of borrowers, reflects a higher risk that the actual rating will be cut at some point in the next two years.

France and Austria lost their AAA ratings earlier this year.

Moody's said there was an increased chance that Greece could leave the eurozone, which "would set off a chain of financial sector shocks".

It added that policymakers could only contain these shocks at a very high cost.

 Top stories
According to Gagik Beglaryan, the Chinese side put forward a number of proposals on the implementation of the railway construction project.
ContourGlobal expects the modernization to create 150 near-term jobs in addition to the 150 long-term technicians employed.
The President declared that we will cover only the population's expenses, meaning people who spend 250 kW of electricity per month.
The proposed additional financing will raise the total length of roads to 360 km, 73 km of which have already been rehabilitated.
Partner news