Ratings agency Moody\'s announced on Friday that it was planning to downgrade Spanish debt, currently at a \"Aa2\" rating, due to the country\'s budget problems. Moody\'s said that the pressure on Madrid could be exacerbated by fears over the new European deal to rescue Greece which had \"created a precedent\" by involving the private sector and signaled a growing risk for investors holding bonds in the fragile countries of the eurozone.