Moody's Investors Service on Tuesday cut Italy's bond ratings by three notches, saying it sees a "material increase" in funding conditions for euro zone countries with high levels of debt.
Moody's downgraded Italy's ratings to A2 from Aa2 and kept a negative outlook on the rating, a sign that further downgrades are possible in the couple of years.
Copyright 2011 Thomson Reuters. Click for Restrictions.
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