Bloomberg News

EU, Region’s Big Banks May Have Ratings Cut by S&P

December 07, 2011

(Corrects to show the similar action in second paragraph was on euro-area governments.)

Dec. 7 (Bloomberg) -- The European Union’s AAA long-term rating and the ratings of some of the region’s largest banks including BNP Paribas SA, Commerzbank AG and Deutsche Bank AG may be cut by Standard & Poor’s.

The ratings are on “creditwatch negative,” S&P said in separate statements, following a similar action on 15 of the 17 euro-area governments. The EU’s short-term A-1+ rating was affirmed.

Link to Statement on Banks: NSN LVUMRL3PWT1C <GO> Link to Statement on EU: NSN LVUMNP3PWT1D <GO>

--Editor: Greg Chang

To contact the reporter on this story: Vivek Shankar in San Francisco at vshankar3@bloomberg.net

To contact the editor responsible for this story: Greg Chang at gchang1@bloomberg.net


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