Fitch downgrades six global banks

BBC – Fitch has downgraded six of the world’s largest banks, citing the challenging financial markets. The banks include Bank of America and Goldman Sachs in the US, the UK’s Barclays and France’s BNP Paribas. Germany’s Deutsche Bank and Switzerland’s Credit Suisse were also cut. Fitch cut the “issuer default ratings” at the banks, which “reflect the ability of an entity to meet financial commitments on a timely basis”. Read Article

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