http://www.thetrumpet.com/?q=8425.7140.0.0


EU Moves to Quash Rating Agencies

July 8, 2011 | From theTrumpet.com

After Moody’s credit rating agency downgraded Portugal’s debt rating to Ba2—junk status—on July 5, the European Union has been gunning for the world’s three main rating agencies.

Moody’s gave Portuguese debt a negative outlook, meaning it may downgrade the debt further later. Portugal will have “formidable challengesâ€