Moody’s downgrades German, Dutch and Luxembourg economic outlook to negative

24.07.2012 11:59
Moody’s downgrades German, Dutch and Luxembourg economic outlook to negative

YEREVAN, July 24. /ARKA/. Ratings agency Moody’s has downgraded the economic outlooks in Germany Netherlands and Luxembourg from stable to negative, due to developments in the eurozone, Russian RIA Novosti reports Tuesday referring to France-Presse.
However the ratings of these countries remained at “Aaa” level.
The agency said it had downgraded ratings due to “rising uncertainty” around the debt crisis in the eurozone.

According to it, the possibility of Greece’s withdrawal from the eurozone is becoming more and more real, what, in turn, may strike heavily the other members, such as Italy and Spain.
Negative outlooks mean that the agency may downgrade the rating within the next 12-18 months. —0-


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