Moody's warns it could downgrade Spain banks

The Moody's rating agency is warning that it could downgrade the debt rating of Spanish banks dependent on help from the government to help them weather Europe's debt crisis. Moody's Investor Service says the strength of 30 banks could be hurt by "a potential reduction in the likelihood that the Spanish government will support Spanish banks in need."
But the ratings agency also said Monday that it believes the government is committed to supporting the banks. Spanish banks were hit hard by the debt crisis. Many helped finance a construction boom that went bust. Moody's last week put Spain's government debt rating on review for a possible downgrade.