Spanish Bonds Open Lower After Moody's Says Rating Will Probably Be Cut

Spanish government bonds fell after Moody’s Investors Service said the nation will probably lose its top Aaa credit rating.

The yield on the 10-year bond rose two basis points to 4.27 percent as of 7:36 a.m. in London. The two-year note yield advanced nine basis points to 2.08 percent.

“Spain is very highly rated and I can’t say where that rating will end up, but it’s likely to go down a bit,” Steven A. Hess, senior credit officer at Moody’s, said in an interview in Sydney yesterday.

To contact the reporter on this story: Daniel Tilles in London at dtilles@bloomberg.net

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