Moody’s Fading Relevance Exposed in Downgrades of Nordic Banks

Moody’s Fading Relevance Exposed in Downgrades of Nordic Banks

Scott Eells/Bloomberg

Pedestrians walk past the Moody's Investors Service Inc. headquarters in New York. Moody’s last week lowered Sweden’s Nordea Bank AB and Svenska Handelsbanken AB to Aa3, and Norway’s DNB Bank ASA to A1, all single-level downgrades.