Money | Moody's Moody's Will Downgrade Spain's Banks Across-the-board move coming within a few hours By Kevin Spak Posted Jun 25, 2012 8:24 AM CDT Copied A man tries to use the cash machine as demonstrators place poster on the bank's windows during a protest against Bankia in Madrid, Spain, Saturday, June 16, 2012. (AP Photo/Andres Kudacki) Moody's intends to cut the credit rating on every single bank in Spain today, sources tell Reuters. The cuts, which could come in a matter of hours, follow on the heels of Moody's slashing Spain's sovereign rank by a whopping three grades on June 13. The banks have been informed of the move, the sources say. Read These Next Villanova's 'cruel hoax' a sign of a bigger problem. The FBI is reportedly looking for something in John Bolton's home. President Trump's DC "patrol" involved delivering pizza. Party registration offers a warning to Democrats. Report an error