Tags: EU | Banks | Ratings | S&P

S&P Threatens to Cut Ratings of EU, Region’s Banks

Wednesday, 07 Dec 2011 03:32 PM

The European Union’s AAA long-term rating and the ratings of some of the region’s largest banks including BNP Paribas SA, Commerzbank AG and Deutsche Bank AG may be cut by Standard & Poor’s.

The ratings are on “creditwatch negative,” S&P said in separate statements Wednesday, following a similar action on 15 of the 17 euro-area governments  on Monday. The EU’s short-term A-1+ rating was affirmed.

Other firms placed on CreditWatch negative include Milan-based UniCredit SpA and French lenders Credit Agricole SA and Societe Generale SA.

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The European Union s AAA long-term rating and the ratings of some of the region s largest banks including BNP Paribas SA, Commerzbank AG and Deutsche Bank AG may be cut by Standard Poor s.The ratings are on creditwatch negative, S P said in separate statements...
EU,Banks,Ratings,S&P
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2011-32-07
Wednesday, 07 Dec 2011 03:32 PM
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