Moody's may lower credit rating of Spain

As it's seen Spain may face difficulties in re-financing its debt next year -- Moody's can downgrade the credit rating of Spain.

Moody's had already cut the rating of Spain's sovereign debt from AAA to AA1 in September, following the similar reason. And the threat of further downgrade cites the Spain is going through a major financial turmoil.

This recent comment from Moody's sent the European markets lower on Wednesday, euro fell against USD and Pound but later re-gained.