Bloomberg News

Europe Bank Efforts Supportive of Lenders’ Ratings, Moody’s Says

October 17, 2011

Oct. 17 (Bloomberg) -- European efforts to recapitalize banks and assist governments in the region are supportive for the credit ratings of the region’s lenders, though more can be done, Moody’s Investors Service said.

“These developments are credit positive for European banks, although more capital alone will bring only temporary respite,” Moody’s said in its Weekly Credit Outlook.

“The crisis has morphed into a systemic sovereign and banking crisis and is pushing European governments towards more mutual support. This is crucial to arresting mounting sovereign debt concerns.”

To contact the reporter on this story: Wes Goodman in Singapore at wgoodman@bloomberg.net

To contact the editor responsible for this story: Benjamin Purvis at bpurvis@bloomberg.net


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