10/04/2011 06:01 pm ET Updated Dec 04, 2011

Moody's Cuts Italy's Bond Rating

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.