Moody's Downgrades Spain, Italy, Portugal; Outlooks Lowered on UK, France, Austria

Moody's just announced the following actions, citing uncertainty over the euro area's prospects for institutional reform of fiscal and economic framework:

• Spain downgraded from A1 to A3, Negative outlook
  
• Italy downgraded from A2 to A3, Negative outlook
  
• Portugal downgraded from Ba2 to Ba3, Negative outlook
  
• Slovenia downgraded from A1 to A2, Negative outlook
  
• Slovakia downgraded from A1 to A2, Negative outlook
  
• Malta downgraded from A2 to A3, Negative outlook
  
• UK outlook lowered to Negative
  
• France outlook lowered to Negative
  
• Austria outlook lowered to Negative

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