Euro

Moody's Cuts EU Outlook

Now labelled "negative"

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Moody's has lowered its outlook for the European Union's AAA credit rating to "negative" and warned that the bloc's rating could be downgraded.

It said the move reflected the negative outlook for the ratings of the EU's key budget contributors.

Earlier this year, Moody's put ratings of Germany, France, Netherlands and the UK on a negative outlook.