Moody's revises Europe credit ratings
US credit agency Moody's has updated the credit rating of UK, France and Austria to "negative outlook" and downgraded the ratings of Italy, Spain and Portugal.
In a statement, Moody's said that it had "adjusted the sovereign debt ratings of selected EU countries to reflect their susceptibility to the growing financial and macroeconomic risks emanating from the euro area crisis."
Tom Esslemont reports.
14 Feb 2012