Fitch downgrades 8 of biggest banks
France: International credit rating agency Fitch Ratings has
downgraded the credit ratings for eight of the world's biggest banks
based in Europe and the United States, citing the ‘increased challenges’
they were facing in the financial markets.
The Paris-based agency said in a statement in New York on Thursday
that it had lowered the ratings for Wall Street powerhouses Bank of
America Corp. and the Goldman Sachs Group Inc. as well as the other US
bank of Morgan Stanley, the Associated Press reported.
The European banks stuck by Fitch were Barclays PLC, BNP Paribas,
Credit Suisse AG, Deutsche Bank AG, and Societe Generale.
The market challenges the banks face are the result of both negative
economic developments as well as numerous regulatory changes, Fitch
said.
Last month, the US-based Standard & Poor's rating agency also
downgraded Bank of America, Goldman Sachs, Barclays, HSBC, and some
financial firms in Germany and France.
Moody's, another such mainstream US-based agency, also recently
issued several downgrades for some banks and other international
financial firms.
Press TV |