EU, Region’s Big Banks May Have Ratings Cut by S&P
EU, Region’s Big Banks May Have Ratings Cut
Balint Porneczi/Bloomberg
The logo of BNP Paribas SA hangs outside a bank branch in Paris.
The logo of BNP Paribas SA hangs outside a bank branch in Paris. Photographer: Balint Porneczi/Bloomberg
(Corrects to show the similar action in second paragraph was on euro-area governments.)
The European Union’s AAA long-term rating and the ratings of some of the region’s largest banks including BNP Paribas SA, Commerzbank AG and Deutsche Bank AG may be cut by Standard & Poor’s.
The ratings are on “creditwatch negative,” S&P said in separate statements, following a similar action on 15 of the 17 euro-area governments. The EU’s short-term A-1+ rating was affirmed.
To contact the reporter on this story: Vivek Shankar in San Francisco at vshankar3@bloomberg.net
To contact the editor responsible for this story: Greg Chang at gchang1@bloomberg.net
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