Standard & Poor’s Rating Services cut the long-term counterparty credit ratings on Barclays Bank Plc, Credit Suisse AG, and Deutsche Bank AG to A from A+, S&P said in a statement Tuesday.
The rating company also affirmed its ratings on UBS AG and said the ratings on the banks are now stable.
“Barclays, Credit Suisse, Deutsche Bank, and UBS are among the most exposed in Europe to a combination of regulatory initiatives being undertaken globally on capital market-related businesses,” the statement said.