S&P cuts ratings of Euro banks

Standard & Poor’s downgraded Credit Suisse, Deutsche Bank and Barclays on Wednesday; reporting worries over their investment portfolios sizes and the impact of new regulations. Credit Suisse, Deutsche Bank and Barclays rely heavily on investment banking to encourage revenue growth. Banks are still recovering from the 2008 financial crisis, which drove some economies into recession and reproduced new regulations and legal probes. Barclays and Deutsche Bank had their ratings cut from A+ to A while Credit Suisse Group was reduced to A- from A. The rating agency said that Deutsche...

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S&P revises US credit outlook to Stable, USD erases gains

Standard & Poor’s removed on Monday the upcoming threat of US credit rating downgrade by changing its outlook to ‘Stable’ from ‘Negative’, following an improved economic and fiscal outlook. The change reflects that there is less than a one-third chance of a downgrade in the upcoming two years. Nikola Swann, S&P’s lead US sovereign analyst was quoted saying: “We did get some movement from both sides and we think that is encouraging, at least to the point of convincing us that the dynamics in Washington are not likely to get substantially worse in the medium term”. S&P...

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