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 Putin faces unfamiliar terrain of shouted questions. Kristi Noem is catching some flak over her new home. Guests find summit document on hotel printer. This is why you never rappel down a waterfall alone. Report an error