9 Portugal Lenders Downgraded
Source: Agencies |
October 8, 2011, Saturday
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Print Edition
Print Edition
Moody's has downgraded nine Portuguese banks, citing their exposure to government debt.
It downgraded Portugal to Ba2, with outlook negative, in July. The country got a 78-billion-euro (US$104 billion) bailout this year.
Moody's said yesterday it cut senior debt and deposit ratings and standalone ratings for Caixa Geral de Depositos, Banco Comercial Portugues, Banco Espirito Santo, Banco BPI, Banco Santander Totta, and Caixa Economica Montepio Geral. It also cut the ratings for Banco Internacional do Funchal, Banco Portugues de Negocios and Espirito Santo Financial Group.
It downgraded Portugal to Ba2, with outlook negative, in July. The country got a 78-billion-euro (US$104 billion) bailout this year.
Moody's said yesterday it cut senior debt and deposit ratings and standalone ratings for Caixa Geral de Depositos, Banco Comercial Portugues, Banco Espirito Santo, Banco BPI, Banco Santander Totta, and Caixa Economica Montepio Geral. It also cut the ratings for Banco Internacional do Funchal, Banco Portugues de Negocios and Espirito Santo Financial Group.
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