Related News
British banks in Moody's sights
Source: Agencies |
September 15, 2009, Tuesday
|
Print Edition
Print Edition
THE British banking sector's creditworthiness is set to remain under pressure for the next 12-18 months, as rising bad debts on the back of a weak economy weigh on lenders' profits, credit rating agency Moody's said yesterday.
"Moody's maintains its negative outlook for credit conditions for the UK banking sector. We expect the sustained weakness of the macroeconomic environment to continue to feed into higher loan arrears with ensuing pressures on profitability," the agency said.
However, it did not expect to make many downgrades to banks' credit ratings over the next 12-18 months, as the sector's current ratings largely reflect the risks it faces.
Moody's said banks' creditworthiness had also been bolstered by about 120 billion pounds (US$198.6 billion) in fresh capital since the onset of the financial crisis in 2007.
"Moody's maintains its negative outlook for credit conditions for the UK banking sector. We expect the sustained weakness of the macroeconomic environment to continue to feed into higher loan arrears with ensuing pressures on profitability," the agency said.
However, it did not expect to make many downgrades to banks' credit ratings over the next 12-18 months, as the sector's current ratings largely reflect the risks it faces.
Moody's said banks' creditworthiness had also been bolstered by about 120 billion pounds (US$198.6 billion) in fresh capital since the onset of the financial crisis in 2007.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
