The Associated Press
MADRID — Moody's Investors Service has downgraded the Spanish government debt, joining two other major credit rating agencies who have taken similar steps out of concern over the country's public finances.
The London-based agency lowered the rating by one notch, from Aa1 to Aaa, with a stabile outlook.
The agency said Thursday it was acting because of concerns over Spain's weak economic growth prospects and what it called considerable deterioration in the government's financial strength.
The other two agencies, Standard & Poor's and Fitch, downgraded Spanish debt in late April and late May respectively.
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