Portuguese American Journal

Image: Moody’s Corporation sign

epa02822270 A sign outside the New York offices of Moody’s Corporation in New York, New York, USA, 13 July 2011. Moody’s Corporation is the holding company for Moody’s Analytics and Moody’s Investors Service, a credit rating agency which performs international financial research and analysis on commercial and government entities. The EU has often railed against credit rating agencies for giving negative assessments on the single currency‘s weakest economies. US-based Moody‘s downgraded Portugal‘s rating to junk on 12 July,
saying that the country would struggle to bring its debt under control despite a 78-billion-euro (112-billion-dollar) bailout and may even require a second rescue package. EPA/ANDREW GOMBERT