Seeking Alpha

Moody's downgrades the credit rating of Credit Agricole to Aa2 from Aa1 and Societe Generale to...

Moody's downgrades the credit rating of Credit Agricole to Aa2 from Aa1 and Societe Generale to Aa3 from Aa2, with negative outlook. The financial strength rating of Credit Agricole is lowered to C from C+, while the review of SocGen's will be extended "to consider the implications of the potentially persistent fragility in the bank financing markets, given its continued reliance on wholesale funding."
From other sites
Comments (2)
  • mitrado
    , contributor
    Comments (2021) | Send Message
     
    F#ck! It's as if S&P and Moodys are in cahoots to create the next big Market Crash! They're really trying to send it down, day after day after day after day...
    14 Sep 2011, 04:48 AM Reply Like
  • really
    , contributor
    Comments (33) | Send Message
     
    The markets were already ahead of S&P and Moody's. But, the rating agencies may still be behind, unless there is a Euro Tarp. SocGen's management only discloses its Greek sovereign debt exposure, which is not going to impact Tier 1 much. The US money center banks disclose all exposure to the top 5 problem countries in the eurozone, most on a net basis, but, I think C recently disclosed gross. Investors are concerned about total exposure. The less the French bank management offers, the more markets will panic. Suffice to say there's nothing complimentary to say..........
    14 Sep 2011, 08:31 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs