Seeking Alpha

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

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.
From other sites
Comments (5)
  • bbro
    , contributor
    Comments (9719) | Send Message
     
    Bac doesn't need to issue debt for years....
    15 Dec 2011, 04:18 PM Reply Like
  • 1980XLS-2.0
    , contributor
    Comments (525) | Send Message
     
    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
  • torahislife
    , contributor
    Comments (400) | Send Message
     
    Gonna be adding alot more names to that list soon.
    15 Dec 2011, 04:27 PM Reply Like
  • MexCom
    , contributor
    Comments (3051) | Send Message
     
    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
  • klarsolo
    , contributor
    Comments (705) | Send Message
     
    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
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector