Banco Santander among 28 Spanish banks downgraded

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Moody's Investors Service has downgraded the credit rating on 28 Spanish banks, including Banco Santander, less than a month after cutting the nation's sovereign rating.

The ratings agency said the banks are linked to the sovereign, so Spain's reduced creditworthiness "implies a weaker credit profile for Spanish banks". The move follows a cut to the Spanish gove...

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