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Moody's writes in a report out today.......>

EUROZONE
EUROZONE: Moody's writes in a report out today that "economic recovery and
policy effectiveness in reversing debt buildup key to Euro Area sovereign credit
worthiness".
- They expect debt-to-GDP ratios to rise sharply in 2020 with a 15pp median rise
for eurozone sovereigns, the largest increases being expected for Cyprus (Ba2
positive), Italy (Baa3 stable), France (Aa2 stable) and Spain (Baa1 stable).
- That said, "strong debt affordability ... mitigates the near-term impact of
higher debt loads", w interest payments remaining low due in part to ECB policy.
- Key downside risks are delayed economic recovery or difficulty in narrowing
fiscal imbalances.
- Full report available at link below:
https://www.moodys.com/research/Moodys-Economic-recovery-and-policy-effectivenes
s-in-reversing-debt-buildup--PBC_1238863?cid=

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