Barclays, Credit Suisse, Deutsche Bank Credit Ratings Cut by S&P

Standard & Poor’s Rating Services cut the long-term counterparty credit ratings on Barclays Bank Plc, Credit Suisse AG, and Deutsche Bank AG (DBK) to A from A+, S&P said in a statement today.

The rating company also affirmed its ratings on UBS AG (UBSN) and said the ratings on the banks are stable.

“Barclays, Credit Suisse, Deutsche Bank, and UBS are among the most exposed in Europe to a combination of regulatory initiatives being undertaken globally on capital market-related businesses,” the statement said.

To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net

To contact the editor responsible for this story: Christine Harper at charper@bloomberg.net

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