S&P Downgrades Major European Banks Due To Uncertain Markets
Standard & Poor's announced Tuesday it is cutting the credit ratings of three major European banks: Credit Suisse Group AG (NYSE:CS), Barclays PLC (NYSE:BCS) (LON:BARC) and Deutsche Bank AG (NYSE:DB) (ETR:DBK).
Bank Ratings Downgraded
The ratings agency downgraded all three banks to A from A+, citing greater regulation and uncertain market conditions.
In a statement, S&P 500 (INDEXSP:.INX) said the ratings action was due . . .
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