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Moody’s cut Italy ratings by 3 notches

Moody’s cut Italy ratings by 3 notches

NEW YORK | Tue Oct 4, 2011 5:23pm EDT

NEW YORK (Reuters) – Moody’s Investors Service on Tuesday cut Italy’s bond ratings by three notches, saying it sees a “material increase” in funding conditions for euro zone countries with high levels of debt.

Moody’s downgraded Italy’s ratings to A2 from Aa2 and kept a negative outlook on the rating, a sign that further downgrades are possible in the couple of years.

http://www.reuters.com/article/2011/10/04/us-italy-moodys-debt-idUSTRE7936R420111004

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