Partner Article

Bank ratings to be cut

Several British banks are set to see their ratings cut drastically this month, as part of a worldwide review by ratings agency Moody’s.

The cuts could cost the banks millions in additional costs, as well as potentially reducing competitiveness against higher rated peers. This move also indicates that Moody’s are taking an increasingly pessimistic view of the trustworthiness of financial institutions.

While it is believed that the exercise will not have a serious effect on British banks, should the overall lack of confidence in the worldwide banking industry be a cause for concern?

This was posted in Bdaily's Members' News section by Ruth Mitchell .