Moody's Could Downgrade Italy's Government Ratings
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US stocks dipped rather sharply into the last hour of trading Friday as Moody's Investors Service said it may downgrade Italy's Aa2 government bond ratings.
Moody's affirmed the country's short-term Prime-1 rating.
Debt contagion concerns with the Euro area have already been bad enough with Greece scrambling for aid and continued uncertainty related to Irish banks.
Italy was one of the original "PIIGS" (Portugal, Ireland, Italy, Greece, Spain) as debt worries began being heard on the Street throughout 2009 and 2010.
Moody's affirmed the country's short-term Prime-1 rating.
Debt contagion concerns with the Euro area have already been bad enough with Greece scrambling for aid and continued uncertainty related to Irish banks.
Italy was one of the original "PIIGS" (Portugal, Ireland, Italy, Greece, Spain) as debt worries began being heard on the Street throughout 2009 and 2010.
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