(Reuters) - As a result, it said that on Tuesday, it would put on review for possible downgrade some 40 to 50 mainly European banks, with the majority of ratings set to be downgraded by one notch, although there could be two- or three-notch cuts. The reviews will be concluded on April 10.
The original methodology was roundly criticised after it led to upgrades to triple-A for 16 European bank groups, including four- or five-notch upgrades for Iceland's three major banks. Analysts and investors said this could devalue Moody's ratings as it would make it more difficult to distinguish between banks' relative credit quality. "We think investors will generally welcome the refinement as it requires less of a step-change than pre-JDA ratings," analysts at Dresdner Kleinwort said in a note to clients.
Read more at Reuters.com Bonds News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment