Saturday, September 10, 2011

Downgrade ahead for French banks

French Banks Poised for Moody’s Downgrade

BNP Paribas (BNP) SA, Societe Generale SA and Credit Agricole SA (ACA), France’s largest banks by market value, may have their credit ratings cut by Moody’s Investors Service as soon as next week because of their Greek holdings, two people with knowledge of the matter said.
Comment: All government debt is junk.

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