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

Barclays, Credit Suisse, Deutsche Bank Credit Ratings Cut by S&P
The Barclays Bank Plc logo hangs from the top of the company's headquarters in the Canary Wharf business district of London. Photographer: Simon Dawson/Bloomberg

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

The rating company also affirmed its ratings on UBS AG 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.

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