Moody’s downgrades 11 banks European

Moody’s downgrades 11 banks European

Saturday, June 16, 2012 13:45

London / follow-up Albgdah News / .. Moody’s lowered the U.S. credit rating classification of a tenth European banks’ to the deterioration of the creditworthiness of certain destinations exporter of sovereign debt in the euro zone.
The sources said that the economic “one of the banks that were cut were classified as five banks, including Dutch ‘ING’ and ‘ABN AMRO’ and three French banks and the Bank both in Belgium and Luxembourg.”

The rating agency said that “the selected banks in France and the Benelux countries (Belgium, Netherlands and Luxembourg) was reduced classified as part of ‘a wider review of European banks.”
Made the revisions, which began in February due to the difficult operating environment in Europe due to the crisis the euro area long-standing.
The sources quoted Moody’s said in a statement that the Dutch banks will face a difficult operating conditions throughout 2012 and perhaps beyond.
And reduced the classification of Rabobank, ING and ABN Amro and a group associated with LeasePlan car sector increased by two degrees each, while the downgrade MSN S Bank by one order.
While the agency developed a classification of ING on the list of ‘under negative control’ and kept the other four banks rated at a stable.
The group has been reduced so that the BBC sets the Belgian two degrees because of the ‘extreme vulnerability to the economic situation deteriorating macro-European “. / Finished / agencies.
Source: albaghdadianews