Moody's: Cyprus bailout has negative implications for EU bank creditors

FXstreet.com (Barcelona) - Moody’s rating agency is out with a brief note saying that Cyprus bail-out has negative implications for EU bank creditors. Looking at credit implication for sovereigns, Moody's says in unclear.

Moody’s expands: "The agreement reflects euro area policymakers’ desire to avoid sovereign defaults in addition to Greece... the support package reduces the immediate risk of a Cypriot debt restructuring."