TNBiz (TNBiz)
Markets  |  July 13, 2012 14:10:21

Brussels criticized the timing of the downgrade, Moody's Italy


BRUSSELS (MEDIAFAX) - European Commission (EC) criticized the timing of the downgrade Italy international rating agency Moody's by two degrees to "Baa2". Informed the AFP on Friday.

"I think we can legitimately ask the question as to whether this was the appropriate timing," said European Commission spokesman Simon O'Connor on Friday after a downgrade of Italy.

International rating agency Moody's is on Friday morning over Italy knocked rating by two grades to "Baa2" from previous "A3". Moody's also gave Italy a negative rating outlook, which means that it can further reduce it.

O'Connor noted that impairment rating of the country there have been only a few hours before important auctions of Italian government bonds.

Tomáš Králíček, kralicek@mediafax.cz

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Brusel kritizuje načasování snížení ratingu Itálie agenturou Moody's

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