SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services on Wednesday placed some of the largest euro-zone banks, including Societe Generale SCGLF and Deutsche Bank DB, on review for possible downgrades.
The move comes in the wake of the ratings agency's decision to review 15 euro-zone sovereign ratings earlier this week. "We believe that the ratings on Austria, Belgium, Finland, Germany, the Netherlands, and Luxembourg could be lowered by up to one notch, if at all, and those on Estonia, France, Ireland, Italy, Malta, Portugal, Slovak Republic, Slovenia, and Spain by up to two notches, if at all," said S&P in a statement. Other banks on the list include BNP Paribas BNPQF, Commerzbank CRZBF and Credit Lyonnais. |