"Moody’s has recently indicated that it may downgrade Italy’s debt due to macroeconomic structural weaknesses and the surrounding economic turmoil of its

"Moody’s has recently indicated that it may downgrade Italy’s debt due to macroeconomic structural weaknesses and the surrounding economic turmoil of its neighbors. Just last Thursday, Moody’s said it might downgrade 13 Italian banks if the the country’s rating is cut." Is it the same Moody's that failed to prevent from the subprime crisis and did not downgrade in time the banks that had stakes in subprime credits? Is it possible that soon the actions of Moody's, S&P and Fitch will not have much value?