Spain will probably lose its Aaa credit rating after the country was put under review for possible downgrade in June, and the US needs a “clear plan” to tackle its deficit, Moody’s Investors Service said.
“Spain is very highly rated and I can’t say where that rating will end up, but it’s likely to go down a bit,” Steven A Hess, senior credit officer at Moody’s, said in an interview in Sydney yesterday. In the United States, slower growth may hinder government efforts to address the budget shortfall, he said.