July 24, 2012 9:10 AM

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Moody's warns of possible downgrade of Germany's credit rating

The credit ratings agency Moody's has warned that the outlook for Germany's AAA credit rating is negative. This is the first step towards a possible downgrade. The ratings for the eurozone's other top-rated economies the Netherlands and Luxembourg were also put on negative outlooks. Moody's said the countries were at risk from wider eurozone troubles and a possible Greek exit from the euro. France and Austria lost their AAA ratings earlier this year.

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