Moody's Warns More Credit Downgrades Are Coming
STEVE INSKEEP, HOST:
Another blast from a credit rating is at the top of NPR's business news.
(SOUNDBITE OF MUSIC)
INSKEEP: The U.S. rating agency Moody's announced this morning that more downgrades maybe coming. This time for nearly 20 global banks and dozens of additional European firms, names like Morgan Stanley and UBS could see their long-term credit ratings affected here. It's another indication of the wide reach of Europe's debt crisis.
Moody's is asking how vulnerable banks are to the strained finances in many countries.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.