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Moody's Warns More Credit Downgrades Are Coming

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Moody's Warns More Credit Downgrades Are Coming

Business

Moody's Warns More Credit Downgrades Are Coming

Moody's Warns More Credit Downgrades Are Coming

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  • <iframe src="https://www.npr.org/player/embed/146969112/146969192" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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The U.S. rating agency Moody's announced Thursday morning more downgrades are on the horizon — 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. It's another indicator of the wide reach of Europe's debt crisis.

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.

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