Tags: SP | UK | Stable | Banking

S&P: U.K. No Longer Among Most Stable Banking Systems

Thursday, 28 Jan 2010 11:42 AM

The United Kingdom is no longer classified as being among the most stable and low-risk banking systems in the world, credit rating agency Standard & Poor's said on Thursday.

Britain's weak economy will continue to hinder the credit profile of its banking industry, S&P said in a report, adding it expected the unwind of high levels of debt to weigh heavily on economic growth prospects and banks' financial performance.

"We no longer classify the United Kingdom (AAA/Negative/A-1+) among the most stable and low-risk banking systems globally," Standard & Poor's Ratings Services said.

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The United Kingdom is no longer classified as being among the most stable and low-risk banking systems in the world, credit rating agency Standard Poor's said on Thursday. Britain's weak economy will continue to hinder the credit profile of its banking industry, S P said...
SP,UK,Stable,Banking
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2010-42-28
Thursday, 28 Jan 2010 11:42 AM
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