Moody's downgrades three big Nordic banks

Moody's Investor Service downgraded credit ratings of three large Nordic banks on Friday, citing their reliance on market funding, tough competition for retail loans, and their exposure to the spreading ...

Moody's downgraded Credit Agricole, BNP Paribas, and Societe Generale today. This is fresh on the heels of a September downgrade of Credit Agricole and Societe Generale in September. Please consider French bank ratings downgraded again by Moody's Credit rating agency Moody's has downgraded France's three big banks due to their difficulty borrowing money. The agency cut Credit Agricole and BNP Paribas from Aa2 to Aa3, and Societe Generale from Aa3 to A1.

Just the headline for now: MOODY’S DOWNGRADES UK’S GOVERNMENT BOND RATING TO Aa1 FROM AAA Someone must have clued Moody's on the fact that the UK is about to have its very own Goldman banker, which means consolidated debt/GDP will soon need four digits. In other news, every lawyer in the UK is now celebrating because come Monday Moody's will be sued to smithereens.

Moody's just downgraded the U.K. to AA1 from AAA in a classic Friday night, after-hours move. The British pound fell from around 1.525 against the U.S. dollar to around 1.518 on the news.

From Capital.gr: Moody's Downgrades Five Greek Banks

From Capital.gr: Moody's Downgrades Five Greek Banks