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Moody’s cuts debt ratings of 28 Spanish banks

By Marcy Gordon
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Spain’s battered banks have taken another hit, this time in the form of a sweeping downgrade by Moody’s.

The rating agency said that it is cutting its views on the debt issued by 28 Spanish banks, including international heavyweights Banco Santander and Banco Bilbao Vizcaya Argentaria.

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