Dec. 9 (Bloomberg) -- Bank of France Governor Christian Noyer said that the decision today by Moody’s Investors Service to downgrade French banks was “totally erroneous.”
“It’s quite bizarre,” Noyer said in an interview to be broadcast later today on LCI television. “It comes at exactly the moment when French banks passed all the European stress tests,” when they’ve proven their ability to build their capital and are on track to meet their targets for mid-2012, he said. “The rating agencies are no longer looking at the economic fundamentals,” Noyer added.
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