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Fitch is downgrading the credit ratings of 8 major Western banks - BAC, BCS, CS, DB, GS, MS, Soc...

  • Thursday, December 15, 2011, 4:16 PM ET
    Fitch is downgrading the credit ratings of 8 major Western banks - BAC, BCS, CS, DB, GS, MS, Soc Gen (SCGLY.PK), and BNP Paribas (BNPQY.PK) - to A from either A+ or AA-. Fitch claims the move was motivated by its view that the banks' business models are "particularly sensitive" to economic and regulatory challenges. Shares of the affected names are largely unchanged AH.
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This news story has 5 comments:

  •  
    Bac doesn't need to issue debt for years....
    15 Dec 2011, 04:18 PM Reply Like
  •  
    Bbro,


    "Bac doesn't need to issue debt for years.... "


    Really? They told you that? And you believed them?


    http://bit.ly/rGRz2f
    17 Dec 2011, 01:59 PM Reply Like
  •  
    Gonna be adding alot more names to that list soon.
    15 Dec 2011, 04:27 PM Reply Like
  •  
    Fitch doesn't seem to be a leader in the downgrading business. Being a follower instead of a leader on these rating gives them a downgrade to B-.

    Question - would they have downgraded if the other rating agencies didn't?
    15 Dec 2011, 04:29 PM Reply Like
  •  
    Ratings agencies usually just follow market spreads with their ratings. They are hardly ever the lead in anything, except in making mistakes with huge impact.
    15 Dec 2011, 05:12 PM Reply Like
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