Moody’s Warns Spain It Will Downgrade “More Than 21” Spanish Banks – Expansion!

• Moody’s Warns Spain It Will Downgrade “More Than 21” Spanish Banks – Expansion! 
  by Tyler Durden, http://www.zerohedge.com/ 
  It was such a promising morning for Spain which sold some €2.5 billion in 2015 and 2016 bonds earlier in yet another meaningless and symbolic LTRO-covered exercise, when things went from bad (bank run, pardon, withdrawal meme) to worse, as local Expansion newspaper says Spanish bank ratings will be downgraded in a few hours. Google translated:
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  The rating agency Moody’s announced this morning that the Spanish bank announced in the next 12 hours, as by law, a reduction in its credit rating could affect more than 21 entities. According to several sources, the statement will be released expected at nine in the evening.
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  As Standard & Poor’s for two weeks, the reduction occurs automatically as a result of the downgrading of the debt of the Kingdom of Spain and not motivated by the dynamics of each of the entities. It is a performance similar to that made ??Moody’s with Italian banks .
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  read more!

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