Moody's Reviews Ratings for 114 European Banks
Moody’s Investors Service has announced rating actions affecting 114 financial institutions (counted by group) in 16 European countries. The actions reflect, to differing degrees, the combined pressures from:
Longer-term, the substantial challenges faced by banks and securities firms with significant capital market activities. While there are mitigating factors such as the currently supportive stance of many governments towards their banking systems and accommodative monetary policies, these are overshadowed by the aforementioned pressures, in Moody’s opinion. Moody’s expects that once the reviews announced today are resolved, its EU bank ratings will fully reflect the effects of currently foreseen adverse credit drivers.
Moody’s actions can be summarised as follows:
The financial institutions affected by this announcement are headquartered in the following countries (counted by group and listed by parent domicile): Austria (8), Belgium (1), Denmark (8), Finland (1), France (10), Germany (7), Italy (24), Luxembourg (1), Netherlands (6), Norway (1), Portugal (6), Slovenia (4), Spain (21), Sweden (5),Switzerland (2), UK (9).