Moody's lowered the rating of Spain

International ratings agency Moody's lowered the assessment of Spain with a notch to Aa1 Aa2 to, AFP reported, as the prospect of a country's credit rating is negative.
The decision came on the eve of a meeting of EU finance ministers, expected as a "global response to the crisis with the European sovereign debt.
Rating agency's reasons for its decision with the statement that plans for rescuing the banking sector in Spain will cost more than anticipated and additional debt load her In their project for the restructuring of banks will cost between 40 and 50 billion.
Moody's expressed concern about the capacity of Madrid to improve its finances amid poor economic outlook in the short and medium term.
From the rating agency warned that it is possible to revise the assessment of Spain to the decrease in the future.