RATINGS AGENCY MOODY’S has downgraded 15 of the world’s biggest banks as part of a wider review of bank ratings. Moody’s says the downgrades follow a reassessment of the volatility and risks inherent in large capital market operations. “In the past, these risks have led many institutions to fail or to require outside support,” Moody’s says in its release, adding that its downgrades reflect not only the credit implications of capital markets operations but also the size and stability of earnings from non-capital markets activities of each firm, capitalisation and liquidity buffers.Read more...
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