S&P might cut ratings of EU and major eurozone banks

12/7/2011 | Reuters · Wall Street Journal, The · CNNMoney

Standard & Poor's warned that if EU leaders do not agree this week on a way to resolve the sovereign-debt crisis, it might downgrade credit ratings of the EU, major banks in the eurozone and other entities. "Our review will focus on the financial ability of euro-zone member states to support the EU's debt service should the institution face a period of financial distress," according to a report by S&P analysts Frank Gil and Moritz Kraemer.

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Reuters · Wall Street Journal, The · CNNMoney

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