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Moody's downgrades Danish banks – two blows in one day
Wednesday, 30 May 2012
Credit rating agency, Moody's down grades ratings of nine Danish banks.
According to a press release, the Danish banks affected were Danske
Bank, Jyske Bank and Sydbank, whose long-term rating was, lowered each
by two notches to Baa1 and whose short-term was reduced to P-2 from P-1.
Downgrades of the Danish banks comes after Danske Bank earlier today
received a blow when another major credit rating company Standard &
Poor's put the bank's rating one step down.
Already back in December a Danske Bank was downgrade by another rating
agency, Fitch. With a lower rating, it makes it more costly for Danish
Banks to borrow new capital and financing. It is now expected that this
high cost could be passed to the customers.
By Scancomark.se Team
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