MOODYS 3

MOODY’S CONCERN OVER 15 GLOBAL BANKS AND SECURITIES FIRMS.

ON JUNE 21, MOODY’S DOWN GRADED 15 GLOBAL BANKS AND SECURITIES FIRMS WITH BIG OPERATIONS TO REFLECT THE SECTOR ‘S DECLINING PROFITABILITY.

THE DOWNGRADES  REFLECTING  CONCERN OVER THEIR EXPOSURE TO THE VIOLENT SWINGS IN FINANCIAL MARKETS COULD MAKE IT MORE EXPENSIVE FOR THOSE BANKS TO BORROW MONEY.

ALL THE BANKS AFFECTED BY THESE RATING ACTIONS HAVE SIGNIFICANT EXPOSURE TO THE VOLATILITY AND RISKS INHERENT IN THE CAPITAL MARKETS BUSINESS.

SOURCE : MOODY’S AND BOURSORAMA.

PHLDUCX