(LONDON) -- Moody's downgraded the credit ratings of six European countries on Monday and warned that three others, including Britain, could be next.
The credit ratings agency cut Italy's grade to A3 from A2, Spain's to A3 from A1, Portugal's to Ba3 from Ba2, Malta's to A3 from A2, Slovakia's to A2 from A1, and Slovenia's to A2 from A1. All six countries were also given negative outlooks.
Meanwhile, Moody's gave negative outlooks to the United Kingdom, France and Austria, meaning that the countries could lose their AAA ratings in the future if the economy remains weak.
Monday's downgrades and warnings are a reminder that the region continues to be plagued by debt problems.
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